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Loan default letter sample
Loan default letter sample












If the Company or the lender under - the Loan and Security Agreement (as defined in the Series E Certificate of Designations) delivers notice of a Loan Default (as defined in Section 1 of the Series E Certificate of Designations) to an Investor pursuant to Section 1 of the Certificate of Designations or the Company delivers an Elective Default Notice (as defined in Section 6 of the Series E Certificate of Designations) pursuant to Section 6 of the Series E Certificate of Designations or the Company delivers a Proceeds Default Notice (as defined in Section 7 of the Series E Certificate of Designations) pursuant to Section 7 of the Series E Certificate of Designations, and in any such case there no longer exists a Loan Default, then in each such case the Company shall deliver written notice ("Loan Default Cure Notice") to each Investor within one (1) Business Day of such Loan Default no longer being in existence provided that prior to or current with the Company's delivery of a Loan Default Cure Notice to an Investor, the Company shall publicly disclose that such Loan Default no longer exists.














Loan default letter sample