Default Contract Clauses (7,580)
Grouped Into 67 Collections of Similar Clauses From Business Contracts
This page contains Default clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Default. The following are events of default under this Note: (i) Company shall fail to pay any principal under this Note, pursuant to the terms of this Note, on or before the Maturity Date; or (ii) Company shall fail to pay any interest or any other amount under this Note, pursuant to the terms of this Note, on or before the Maturity Date; or (iii) a receiver, trustee or other similar official shall be appointed over Company or a material part of its assets and such appointment shall remain uncontested
... for ten (10) days or shall not be dismissed or discharged within thirty (30) days; or (iv) Company shall become insolvent or generally fails to pay, or admits in writing its inability to pay, its debts as they become due, subject to applicable grace periods, if any; or (v) Company shall make a general assignment for the benefit of creditors; or (vi) Company shall file a petition for relief under any bankruptcy, insolvency or similar law (domestic or foreign); or (vii) an involuntary proceeding shall be commenced or filed against Company; or (viii) Company shall fail to observe or perform any covenant, obligation, condition or agreement of Company contained herein, including without limitation all covenants to timely file all required quarterly and annual reports, and any other filings related to Rule 144; or (ix) any representation, warranty or other statement made or furnished by or on behalf of Company to Investor herein or in connection with the issuance of the Notes shall be false, incorrect, incomplete or misleading in any material respect when made or furnished.
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Default. The following are events of default under this
Note: Bond: (i) Company shall fail to pay any principal under this
Note, Bond, pursuant to the terms of this
Note, Bond, on or before the Maturity Date; or (ii) Company shall fail to pay any interest or any other amount under this
Note, Bond, pursuant to the terms of this
Note, Bond, on or before the Maturity Date; or (iii) a receiver, trustee or other similar official shall be appointed over Company or a material part of its assets and such
... appointment shall remain uncontested for ten (10) days or shall not be dismissed or discharged within thirty (30) days; or (iv) Company shall become insolvent or generally fails to pay, or admits in writing its inability to pay, its debts as they become due, subject to applicable grace periods, if any; or (v) Company shall make a general assignment for the benefit of creditors; or (vi) Company shall file a petition for relief under any bankruptcy, insolvency or similar law (domestic or foreign); or (vii) an involuntary proceeding shall be commenced or filed against Company; or (viii) Company shall fail to observe or perform any covenant, obligation, condition or agreement of Company contained herein, including without limitation all covenants to timely file all required quarterly and annual reports, and any other filings related to Rule 144; or (ix) any representation, warranty or other statement made or furnished by or on behalf of Company to Investor herein or in connection with the issuance of the Notes Bonds shall be false, incorrect, incomplete or misleading in any material respect when made or furnished.
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Default. The following events shall be "Events of Default": (a) The occurrence of an Event of Default (as defined in the Notes) under the Notes; (b) Any representation or warranty of any Obligor in this Agreement shall prove to have been incorrect in any material respect when made; and (c) The failure by Obligor to observe or perform any of its obligations hereunder or the Notes, for five (5) days after receipt by Obligor of notice of such failure from the Secured Parties.
Default. The following events shall be "Events of Default": (a) The occurrence of
an a Triggering Event
of Default (as defined in the Notes) under the Notes; (b) Any representation or warranty of
any the Obligor in this Agreement shall prove to have been incorrect in any material respect when made; and (c) The failure by Obligor to observe or perform any of its obligations hereunder or the Notes, for five (5) days after receipt by Obligor of notice of such failure from the Secured Parties.
Default. The following events shall be "Events of Default": (a) The occurrence of
an a Triggering Event
of Default (as defined in the Notes) under the Notes; (b) Any representation or warranty of
any the Obligor in this Agreement shall prove to have been incorrect in any material respect when made; and (c) The failure by Obligor to observe or perform any of its obligations hereunder or the Notes, for five (5) days after receipt by Obligor of notice of such failure from the Secured Parties.
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Default. If Seller fails to comply with or perform any of its covenants, agreements and obligations under this Agreement, then, at Purchaser's option: (i) Purchaser will be entitled to terminate this Agreement as its sole option, or (ii) enforce Seller's obligations to convey the Property by delivering written notice to Seller within forty-five (45) days after the scheduled Closing which describes such default and states Purchaser's election to enforce specific performance and actually filing suit
... within ninety (90) days following the expiration of such 45-day period. If Purchaser fails to purchase the Property in accordance with the terms of this Agreement, then Seller's sole and exclusive remedy for the default will be to terminate this Agreement. Upon the termination, except as expressly provided in this Agreement to the contrary, all rights and obligations created under this Agreement will terminate and be of no further force or effect. The provisions of this Section 14 will not limit Purchaser's obligations under any indemnity set forth in this Agreement. If either Seller or Purchaser enforces the obligations of the other under this Agreement by instituting legal proceedings, then the non-prevailing party in any such proceedings will pay all out-of-pocket expenses actually incurred by the prevailing party, including court costs and reasonable attorneys' fees.
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Default. If Seller fails to comply with or perform any of its covenants, agreements and obligations under this Agreement, then, at Purchaser's option: (i) Purchaser will be entitled to terminate this Agreement
and receive an immediate refund of all Earnest Money as its sole
option, option (except as hereafter provided), or (ii) enforce Seller's obligations to convey the Property by delivering written notice to Seller within forty-five (45) days after the scheduled Closing which describes such default
... and states Purchaser's election to enforce specific performance and actually filing suit within ninety (90) days following the expiration of such 45-day forty-five (45) day period. Notwithstanding anything herein to the contrary, if Purchaser elects to terminate this Agreement as the result of a default by Seller, Seller shall reimburse Purchaser up to One Hundred Thousand and 00/100 Dollars ($100,000) for the out-of-pocket costs and expenses incurred by Purchaser in connection with this transaction including Purchaser's due diligence investigation of the Property and the legal fees and expenses of and court and other costs and expenses of preparing, negotiating and enforcing this Agreement. If Purchaser fails to purchase the Property in accordance with the terms of this Agreement, then Seller's sole and exclusive remedy for the default will be to terminate this Agreement. Agreement and to receive and retain the Earnest Money as full liquidated damages for Purchaser's default. Seller and Purchaser acknowledge that it is impossible to more precisely estimate the damages to be suffered by Seller and that retention of the Earnest Money is not intended to be a penalty. Upon the termination, except as expressly provided in this Agreement to the contrary, all rights and obligations created under this Agreement will terminate and be of no further force or effect. The provisions of this Section 14 will not limit Purchaser's obligations under any indemnity set forth in this Agreement. 11 If either Seller or Purchaser enforces the obligations of the other under this Agreement by instituting legal proceedings, then the non-prevailing party in any such proceedings will pay all out-of-pocket expenses actually incurred by the prevailing party, including court costs and reasonable attorneys' fees.
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Default. If any party fails in the performance of any obligation under this Agreement (for purposes of this Section 6 called the "defaulting party"), the other Party shall serve upon the defaulting party written notice of default, describing the default with specificity. If the defaulting party, within thirty (30) days after receipt of such notice, does not cure any material default, the defaulting party shall be deemed to be in default.
Default. If any party fails in the performance of any obligation under this Agreement (for purposes of this Section 6 called the "defaulting party"), the other Party shall serve upon the defaulting party written notice of default, describing the default with specificity. If the defaulting party, within thirty (30) days after receipt of such notice, does not cure any material default, the defaulting party shall be deemed to be in default.
4 7. Consequences of Default. In the event either Party is deemed... to be in material default under Section 6 above, the non-defaulting Party shall have the right to terminate this Agreement pursuant to Section 8 hereof. An election by a Party to terminate the Agreement under Section 8 shall not be deemed to be a waiver by that Party of any other legal or equitable remedies it may have with respect to such default.
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Default. In the case of one or more of the following events (each, a "Default") (i) the Borrower fails to pay when due any payment of principal or interest hereof or (ii) the Borrower becomes insolvent or generally fails to pay, or admits in writing its inability to pay, its debts as they become due; (iii) the Borrower applies for a trustee, receiver or other custodian for it or a substantial part of its property; (iv) a trustee, receiver or other custodian is appointed for the Borrower or for a
... substantial part of its property; or (v) any bankruptcy, reorganization, debt arrangement, or other case of proceeding, is commenced in respect of the Borrower; then, upon the occurrence of any such Default, the Holder may, without notice, declare the unpaid principal and interest on this Note, and all other obligations of the Borrower to the Holder, at once due and payable, whereupon such principal, interest and other obligations shall become at once due and payable. Failure to exercise this option shall not constitute a waiver of the right to exercise the same at any other time.
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Default. In the case of one or more of the following events (each, a "Default") (i) the Borrower fails to pay when due any payment of principal or interest hereof or (ii) the Borrower becomes insolvent or generally fails to pay, or admits in writing its inability to pay, its debts as they become due; (iii) the Borrower applies for a trustee, receiver or other custodian for it or a substantial part of its property; (iv) a trustee, receiver or other custodian is appointed for the Borrower or for a
... substantial part of its property; or (v) any bankruptcy, reorganization, debt arrangement, or other case of proceeding, is commenced in respect of the Borrower; then, upon the occurrence of any such Default, the Holder may, without notice, declare the unpaid principal and interest on this Note, and all other obligations of the Borrower to the Holder, at once due and payable, whereupon such principal, interest and other obligations shall become at once due and payable. Failure to exercise this option shall not constitute a waiver of the right to exercise the same at any other time. Promissory NoteOctober 2021 3. Waiver of Certain Rights. Subject to any applicable notice periods, all parties to this Note, including the maker and any sureties, endorsers, or guarantors, hereby waive protest, presentment, notice of dishonor, and notice of acceleration of maturity and agree to continue to remain bound for the payment of principal, interest and all other sums due under this Note notwithstanding any change or changes by way of release, surrender, exchange, modification or substitution of any security for this Note or by way of any extension or extensions of time for the payment of principal and interest; and all such parties waive all and every kind of notice of such change or changes and agree that the same may be without notice or consent of any of them.
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Default. In the Event of Default (as defined below) hereunder, at the option and upon the declaration of the Holder of this Note and upon five (5) days written notice to Payor (which election and notice shall not be required in the case of an Event of Default under Section 5.2 or 5.3 below), this Note shall accelerate, and all principal and unpaid accrued interest shall become immediately due, payable and collectible. Default interest shall accrue on the unpaid principal amount outstanding as of the
... Event of Default at the rate equal to twenty-five percent (25%) until paid in full. The occurrence of any one or more of the following shall constitute an "Event of Default" hereunder: 5.1 Payor fails to pay timely any sum when due under this Note on the date the same becomes due and payable; 5.2 Payor files any petition or action for relief under any bankruptcy, reorganization, insolvency or moratorium law or any other law for the relief of, or relating to, debtors, now or hereafter in effect, or makes any assignment for the benefit of creditors or takes any corporate action in furtherance of any of the foregoing; 5.3 An involuntary petition is filed against Payor (unless such petition is dismissed or discharged within sixty (60) days under any bankruptcy statute now or hereafter in effect, or a custodian, receiver, trustee, assignee for the benefit of creditors (or other similar official) is appointed to take possession, custody or control of any property of Payor; or, 5.4 The violation or act of default under the terms and conditions of the Collateral Security Agreements.
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Default.
In the If there shall be any Event of Default (as defined below) hereunder, at the option and upon the declaration of the Holder
of this Note and upon
five (5) days written notice to
the Payor (which election and notice shall not be required in the case of an Event of Default under Section 5.2 or 5.3 below), this Note shall
accelerate, accelerate and all principal and unpaid accrued interest shall become
immediately due, payable and collectible.
Default interest shall accrue on the unpaid... principal amount outstanding as of the Event of Default at the rate equal to twenty-five percent (25%) until paid in full. The occurrence of any one or more of the following shall constitute an "Event of Default" hereunder: 5.1 the Payor fails to pay timely any sum when of the principal amount due under this Note on the date the same becomes due and payable; payable or any accrued interest or other amounts due under this Note on the date the same becomes due; 5.2 the Payor files any petition or action for relief under any bankruptcy, reorganization, insolvency or moratorium law or any other law for the relief of, or relating to, debtors, now or hereafter in effect, or makes any assignment for the benefit of creditors or takes any corporate action in furtherance of any of the foregoing; or 5.3 An an involuntary petition is filed against the Payor (unless such petition is dismissed or discharged within sixty (60) days days) under any bankruptcy statute now or hereafter in effect, or a custodian, receiver, trustee, assignee for the benefit of creditors (or other similar official) is appointed to take possession, custody or control of any property of Payor; or, 5.4 The violation the Payor. 1 6. Attorneys' Fees. In any litigation or act other proceeding in connection with the interpretation of default this Note, or the exercise or enforcement of any right under this Note, the terms non-prevailing party shall pay or reimburse the prevailing party for all expenses, including court costs and conditions attorneys' fees, incurred by the prevailing party in connection with such litigation or proceeding (whether incurred at the trial, appellate, or administrative levels, and in any bankruptcy case, arbitration or other proceeding), all of the Collateral Security Agreements. which may be incorporated into and be a part of any judgment or decision rendered in such proceeding.
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Default. Dealers hereby acknowledge and agree that this Amendment is a Loan Document, and a Default hereunder shall constitute a Default under the Financing Documents.
Default. Dealers hereby acknowledge and agree that this Amendment is a Loan Document, and a Default hereunder shall constitute a Default under the
Financing Documents. LSA.
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Default. Upon the occurrence and continuation of an Event of Default, at Payee's option, the entire remaining principal balance of this Note shall become immediately due and payable, without presentment, demand, protest, or other notice of any kind, all of which are expressly waived by Maker. In addition, upon an Event of Default hereunder, Payee shall have all the rights and remedies provided by Law. For the purposes of this Note, each of the following shall be considered an "Event of Default": (a)
... Failure of Maker to pay when due any payment of principal or interest on this Note and such failure continues for five Business Days after Payee notifies Maker thereof in writing; provided, however, that the exercise by Maker in good faith of its right of setoff pursuant to Section 5 above, whether or not ultimately determined to be justified, shall not constitute an Event of Default; Unsecured Adjustable Promissory Note – Page 5 (b) Maker, pursuant to or within the meaning of the United States Bankruptcy Code or any other federal or state law relating to insolvency or relief of debtors ("Bankruptcy Law"), (i) commences a voluntary case or proceeding, (ii) consents to the entry of an order for relief against it in an involuntary case, (iii) consents to the appointment of a trustee, receiver, assignee, liquidator or similar official, (iv) makes an assignment for the benefit of its creditors, or (v) admits in writing its inability to pay its debts as they become due; (c) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that (i) appoints a trustee, receiver, assignee, liquidator or similar official for Maker or substantially all of Maker's properties or (ii) orders the liquidation of Maker, and in each case the order or decree is not dismissed within 90 days; (d) the consolidation or merger of Maker with any person other than an Affiliate of Maker, the sale of all or substantially all of the assets of Maker to a person other than an Affiliate of Maker, or the acquisition by a person other than an Affiliate of Maker of more than 50% of the capital stock of Maker except in connection with a bona fide financing transaction; or (e) Maker takes any action to commence winding up its affairs, liquidate its assets, dissolve or terminate its existence.
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Default. Upon the occurrence and continuation of an Event of Default, at Payee's option, the entire remaining principal
balance amount of this Note shall become immediately due and payable, without presentment, demand, protest, or other notice of any kind, all of which are expressly waived by Maker. In addition, upon an Event of Default hereunder, Payee shall have all the rights and remedies provided by Law. For the purposes of this Note, each of the following shall be considered an "Event of Default":
... (a) Failure of Maker to pay when due any payment of principal or interest on this Note and such failure continues for five Business Days after Payee notifies Maker thereof in writing; provided, however, that the exercise by Maker in good faith of its right of setoff pursuant to Section 5 6 above, whether or not ultimately determined to be justified, shall not constitute an Event of Default; Unsecured Adjustable Promissory Note – Page 5 (b) Maker, pursuant to or within the meaning of the United States Bankruptcy Code or any other federal or state law relating to insolvency or relief of debtors ("Bankruptcy Law"), (i) commences a voluntary case or proceeding, (ii) consents to the entry of an order for relief against it in an involuntary case, (iii) consents to the appointment of a trustee, receiver, assignee, liquidator or similar official, (iv) makes an assignment for the benefit of its creditors, or (v) admits in writing its inability to pay its debts as they become due; (c) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that (i) appoints a trustee, receiver, assignee, liquidator or similar official for Maker or substantially all of Maker's properties or (ii) orders the liquidation of Maker, and in each case the order or decree is not dismissed within 90 days; (d) the consolidation or merger of Maker with any person other than an Affiliate of Maker, the sale of all or substantially all of the assets of Maker to a person other than an Affiliate of Maker, or the acquisition by a person other than an Affiliate of Maker of more than 50% of the capital stock of Maker except in connection with a bona fide financing transaction; or (e) Maker takes any action to commence winding up its affairs, liquidate its assets, dissolve or terminate its existence. Unsecured Convertible Promissory Note – Page 6 9. Waivers. Maker (i) waives, to the fullest extent permitted by law, presentment, demand, notice of demand, protest, notice of protest, notice of acceleration of maturity, notice of intent to accelerate, notice of nonpayment, notice of dishonor and all other notices; (ii) agrees and consents to delays, extensions, renewals, modifications or partial payments hereon, to any release of a party liable hereon or of any collateral herefor, in whole or in part, and to taking or refraining to take any action with respect to this Note, before or after maturity, without notice to or consent from said parties, and without discharging any party liable hereunder; and (iii) agrees that no action, failure to act or failure to exercise any right or remedy on the part of Payee shall in any way affect or impair the obligations of Maker or be construed as a waiver by Payee of, or otherwise affect, any of Payee's or its successors' or assigns' rights under this Note.
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Default. The following occurrences shall each constitute a default by Tenant (an "Event of Default"). a. Failure To Pay. Failure by Tenant to pay any sum, including Rent, due under this Lease following three (3) days' notice from Landlord of the failure to pay. b. Vacation/Abandonment. Vacation by Tenant of the Premises (defined as an absence for at least fifteen (15) consecutive days without prior notice to Landlord), or abandonment by Tenant of the Premises (defined as an absence of five (5) days or
... more while Tenant is in breach of some other term of this Lease). Tenant's vacation or abandonment of the Premises shall not be subject to any notice or right to cure. c. Insolvency. Tenant's insolvency or bankruptcy (whether voluntary or involuntary); or appointment of a receiver, assignee or other liquidating officer for Tenant's business; provided, however, that in the event of any involuntary bankruptcy or other insolvency proceeding, the existence of such proceeding shall constitute an Event of Default only if such proceeding is not dismissed or vacated within sixty (60) days after its institution or commencement. d. Levy or Execution. The taking of Tenant's interest in this Lease or the Premises, or any part thereof, is taken by execution or other process of law directed against Tenant, or attachment of Tenant's interest in this Lease by any creditor of Tenant, if such attachment is not discharged within fifteen (15) days after being levied. e. Other Non-Monetary Defaults. The breach by Tenant of any agreement, term or covenant of this Lease other than one requiring the payment of money and not otherwise enumerated in this Section or elsewhere in this Lease, which breach continues for a period of thirty (30) days after notice by Landlord to Tenant of the breach. e. Failure to Take Possession. Failure by Tenant to take possession of the Premises on the Commencement Date or failure by Tenant to commence any Tenant Improvement in a timely fashion. Landlord shall not be in default unless Landlord fails to perform obligations required of Landlord within a reasonable time, but in no event less than thirty (30) days after notice by Tenant to Landlord. If Landlord fails to cure any such default within the allotted time, Tenant's sole remedy shall be to seek actual money damages (but not consequential or punitive damages) for loss arising from Landlord's failure to discharge its obligations under this Lease. Nothing herein contained shall relieve Landlord from its duty to perform of any of its obligations to the standard prescribed in this Lease. Any notice periods granted herein shall be deemed to run concurrently with and not in addition to any default notice periods required by law.
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Default. The following occurrences shall each
constitute a be deemed an event of default
("Event of Default") by
Tenant: 20.1.Failure to Pay. Tenant
(an "Event of Default"). a. Failure To Pay. Failure by Tenant fails to pay any sum, including Rent, due under this Lease following
three (3) five (5) days'
written notice from Landlord of the failure to pay.
b. Vacation/Abandonment. Vacation by 20.2.VACATION/ABANDONMENT. Tenant
of vacates the Premises (defined as an absence for at least
fifteen (15) thirty... (30) consecutive days without prior notice to Landlord), or abandonment by Tenant of abandons the Premises (defined as an absence of five (5) ten (10) days or more while Tenant is in breach of some other term of this Lease). Tenant's vacation or abandonment of the Premises shall not be subject to any notice or right to cure. c. Insolvency. Tenant's insolvency 20.3.Insolvency. Tenant becomes insolvent, voluntarily or bankruptcy (whether voluntary involuntary bankrupt or involuntary); or appointment of a receiver, assignee or other liquidating officer is appointed for Tenant's business; provided, however, business, provided that in the event of any involuntary bankruptcy or other insolvency proceeding, the existence of such proceeding shall constitute constitutes an Event of Default only if such proceeding is not dismissed or vacated within sixty (60) days after its institution or commencement. d. Levy 20.4.Levy or Execution. The taking of Tenant's interest in this Lease or the Premises, or any part thereof, is taken by execution or other process of law directed against Tenant, or is taken upon or subjected to any attachment of Tenant's interest in this Lease by any creditor of Tenant, if such attachment is not discharged within fifteen (15) days after being levied. e. Other Non-Monetary 20.5.Other Non‐Monetary Defaults. The breach by Tenant of breaches any agreement, term or covenant of this Lease other than one requiring the payment of money and not otherwise enumerated in this Section or elsewhere in this Lease, which 20, and the breach continues for a period of thirty (30) days after notice by Landlord to Tenant of the breach. e. Failure to Take Possession. Failure by 20.6.FAILURE TO TAKE POSSESSION. Tenant fails to take possession of the Premises on the Commencement Date or failure by Tenant to commence any Tenant Improvement in a timely fashion. Landlord shall not be in default unless Landlord fails to perform obligations required of Landlord within a reasonable time, but in no event less than thirty (30) days after notice by Tenant to Landlord. If Landlord fails to cure any such default within the allotted time, Tenant's sole remedy shall be to seek actual money damages (but not consequential or punitive damages) for loss arising from Landlord's failure to discharge its obligations under this Lease. Nothing herein contained shall relieve Landlord from its duty to perform of any of its obligations to the standard prescribed in this Lease. Any notice periods granted herein shall be deemed to run concurrently with and not in addition to any default notice periods required by law. Date.
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Default. Borrower acknowledges that if the Borrower defaults on the loan, SBA may be required to pay Lender under the SBA guaranty, and SBA may the seek recovery on the loan (to the extent any balance remains after loan forgiveness). AGREEMENT TO COOPERATE 1.In consideration thereof of the Loan being given, upon request of the Lender and/or its agents, successors and/or assigns, the undersigned Borrower, shall execute such documents as are reasonable to provide assurance to the Lender: (1) that the
... obligations undertaken by the undersigned in connection with the Loan shall be faithfully performed; (2) that any and all documents and instruments executed by the undersigned in connection with the Loan are accurate statements as to the truth of the matters set forth therein and constitute binding obligations upon the undersigned in accordance with their terms; (3) as to the amount of the Loan outstanding from time to time, and the date and amount of payments made with respect to the Loan. 8 2.The Borrower hereby agrees to promptly correct any defect, error or omission, upon request of Lender, which may be discovered in the contents and/or document regarding the Loan, or in the execution or acknowledgment thereof, and will execute, or re-execute, acknowledge and deliver such further instruments and so such further acts as may be necessary or reasonably requested by Lender to satisfy the terms and conditions of this Loan, and all documents in connection therewith. WAIVER OF JURY TRIAL: BORROWER AND LENDER HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY AND ALL RIGHTS IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION (INCLUDING, BUT NOT LIMITED TO, ANY CLAIMS, CROSS CLAIMS OR THIRD PARTY CLAIMS) ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREIN. BORROWER AND GUARANTOR HEREBY CERTIFY THAT NO REPRESENTATIVE OR AGENT OF LENDER OR LENDER'S COUNSEL HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT LENDER WOULD NOT, IN THE EVENT OF SUCH LITIGATION, SEEK TO ENFORCE THIS WAIVER OF RIGHT TO JURY TRIAL PROVISION. BORROWER AND GUARANTOR ACKNOWLEDGE THAT LENDER HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, INTER ALIA, THE PROVISIONS OF THIS PARAGRAPH. Borrower have executed this Loan Agreement as of the day and year first above written. Borrower: 9 EX-10.6 9 chinainfr_ex1006.htm SBA NOTE Exhibit 10.6 Elizabeth Hernandez U.S. Small Business Administration NOTE SBA Loan # 5506238610 SBA Loan Name Elizabeth Hernandez Date 03-20-2021 Loan Amount $20,833.00 Interest Rate Fixed Borrower Elizabeth Hernandez Operating Company NA Lender Fountainhead SBF LLC 1.PROMISE TO PAY: In return for the Loan, Borrower promises to pay to the order of Lender the amount of twenty thousand eight hundred thirty-three dollars and cents ( $20,833.00 ). interest on the unpaid principal balance, and all other amounts required by this Note.
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Default. Borrower acknowledges that if the Borrower defaults on the loan, SBA may be required to pay Lender under the SBA guaranty, and SBA may the seek recovery on the loan (to the extent any balance remains after loan forgiveness). AGREEMENT TO COOPERATE 1.In consideration thereof of the Loan being given, upon request of the Lender and/or its agents, successors and/or assigns, the undersigned Borrower, shall execute such documents as are reasonable to provide assurance to the Lender: (1) that the
... obligations undertaken by the undersigned in connection with the Loan shall be faithfully performed; (2) that any and all documents and instruments executed by the undersigned in connection with the Loan are accurate statements as to the truth of the matters set forth therein and constitute binding obligations upon the undersigned in accordance with their terms; (3) as to the amount of the Loan outstanding from time to time, and the date and amount of payments made with respect to the Loan. 8 2.The Borrower hereby agrees to promptly correct 6 4.All such requests shall receive the full cooperation and compliance by the undersigned within seven (7) days of the making of any defect, error request set forth in paragraphs 1, 2, or omission, upon request of Lender, which may be discovered in the contents and/or document regarding the Loan, or in the execution or acknowledgment thereof, and will execute, or re-execute, acknowledge and deliver such further instruments and so such further acts as may be necessary or reasonably requested by Lender to satisfy the terms and conditions 3 of this Loan, and all documents in connection therewith. section hereof. WAIVER OF JURY TRIAL: BORROWER AND LENDER HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY AND ALL RIGHTS IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION (INCLUDING, BUT NOT LIMITED TO, ANY CLAIMS, CROSS CLAIMS OR THIRD PARTY THIRD-PARTY CLAIMS) ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREIN. BORROWER AND GUARANTOR HEREBY CERTIFY THAT NO REPRESENTATIVE OR AGENT OF LENDER OR LENDER'S COUNSEL HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT LENDER WOULD NOT, IN THE EVENT OF SUCH LITIGATION, SEEK TO ENFORCE THIS WAIVER OF RIGHT TO JURY TRIAL PROVISION. BORROWER AND GUARANTOR ACKNOWLEDGE THAT LENDER HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, INTER ALIA, THE PROVISIONS OF THIS PARAGRAPH. Borrower have executed this Loan Agreement as of the day and year first above written. Borrower: 9 EX-10.6 9 chinainfr_ex1006.htm SBA NOTE Exhibit 10.6 By: /s/ Elizabeth Hernandez Elizabeth Hernandez, Owner 7 EX-10.7 10 chinainfr_ex1007.htm U.S. SMALL BUSINESS NOTE, DATED APRIL 16, 2021 Exhibit 10.7 U.S. Small Business Administration NOTE SBA Loan # 5506238610 4329518800 SBA Loan Name Elizabeth Hernandez Date 03-20-2021 04-16-2021 Loan Amount $20,833.00 Interest Rate Fixed Borrower Elizabeth Hernandez Operating Company NA Lender Fountainhead SBF LLC 1.PROMISE 1. PROMISE TO PAY: In return for the Loan, Borrower promises to pay to the order of Lender the amount of twenty thousand eight hundred thirty-three dollars and cents ( $20,833.00 ). interest on the unpaid principal balance, and all other amounts required by this Note.
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