(30) days
after the entry thereof.
The term "Bankruptcy Law" means Title 11, U.S. Code,
or any similar federal, state or foreign law for the relief of debtors.
The
term "Custodian" means any receiver, trustee, assignee, liquidator or similar
official under any Bankruptcy Law.
Within five (5) Business Days after the
occurrence of any Event of Default set forth above, the Company shall deliver
written notice thereof to the Holder.
(B)
REMEDIES.
IF ANY EVENT OF DEFAULT HAS OCCURRED AND IS CONTINUING,
THE HOLDER MAY, UPON WRITTEN NOTICE TO THE COMPANY,
(I) DECLARE ALL OF THE
PRINCIPAL THEN OUTSTANDING TOGETHER WITH THE INTEREST AMOUNT WITH RESPECT TO
SUCH PRINCIPAL AND ALL OTHER AMOUNTS OWING OR PAYABLE HEREUNDER AND UNDER THE
INITIAL NOTES IMMEDIATELY DUE AND PAYABLE, IN CASH, ALL WITHOUT PRESENTMENT,
DEMAND, PROTEST OR FURTHER ACT OR NOTICE OF ANY KIND, ALL OF WHICH ARE EXPRESSLY
WAIVED BY THE COMPANY AND (II) EXERCISE ANY AND ALL RIGHTS AND REMEDIES
AVAILABLE TO THE HOLDER OF THIS INITIAL NOTE UNDER THIS INITIAL NOTE, AT LAW OR
IN EQUITY.
6.
LOST OR STOLEN NOTES.
UPON RECEIPT BY THE COMPANY OF EVIDENCE
REASONABLY SATISFACTORY TO THE COMPANY OF THE LOSS, THEFT, DESTRUCTION OR
MUTILATION OF THIS INITIAL NOTE AND, IN THE CASE OF LOSS, THEFT OR DESTRUCTION,
OF AN INDEMNIFICATION UNDERTAKING BY THE HOLDER TO THE COMPANY IN CUSTOMARY FORM
AND REASONABLY SATISFACTORY TO THE COMPANY AND, IN THE CASE OF MUTILATION, UPON
SURRENDER AND CANCELLATION OF THIS INITIAL NOTE, THE COMPANY SHALL EXECUTE AND
DELIVER A NEW NOTE OF LIKE TENOR AND DATE.
FHVI Form Senior Secured Promissory Note v.F2
7.
REMEDIES, CHARACTERIZATIONS, OTHER OBLIGATIONS, BREACHES AND
INJUNCTIVE RELIEF.
THE REMEDIES PROVIDED IN THIS INITIAL NOTE SHALL BE
CUMULATIVE AND IN ADDITION TO ALL OTHER REMEDIES AVAILABLE UNDER THIS INITIAL
NOTE, AT LAW OR IN EQUITY (INCLUDING A DECREE OF SPECIFIC PERFORMANCE AND/OR
OTHER INJUNCTIVE RELIEF), NO REMEDY CONTAINED HEREIN SHALL BE DEEMED A WAIVER OF
COMPLIANCE WITH THE PROVISIONS GIVING RISE TO SUCH REMEDY AND NOTHING HEREIN
SHALL LIMIT THE HOLDER'S RIGHT TO PURSUE ACTUAL DAMAGES FOR ANY FAILURE BY THE
COMPANY TO COMPLY WITH THE TERMS OF THIS INITIAL NOTE.
THE COMPANY COVENANTS TO
THE HOLDER THAT THERE SHALL BE NO CHARACTERIZATION CONCERNING THIS INSTRUMENT
OTHER THAN AS EXPRESSLY PROVIDED HEREIN.
AMOUNTS SET FORTH OR PROVIDED FOR
HEREIN WITH RESPECT TO PAYMENTS, CONVERSION AND THE LIKE (AND THE COMPUTATION
THEREOF) SHALL BE THE AMOUNTS TO BE RECEIVED BY THE HOLDER THEREOF AND SHALL
NOT, EXCEPT AS EXPRESSLY PROVIDED HEREIN, BE SUBJECT TO ANY OTHER OBLIGATION OF
THE COMPANY (OR THE PERFORMANCE THEREOF).
8.
SPECIFIC SHALL NOT LIMIT GENERAL; CONSTRUCTION.
NO SPECIFIC
PROVISION CONTAINED IN THIS INITIAL NOTE SHALL LIMIT OR MODIFY ANY MORE GENERAL
PROVISION CONTAINED HEREIN.
THIS INITIAL NOTE SHALL BE DEEMED TO BE JOINTLY
DRAFTED BY THE COMPANY AND ALL BUYERS OF NOTES AND SHALL NOT BE CONSTRUED
AGAINST ANY PERSON AS THE DRAFTER HEREOF.
9.
FAILURE OR INDULGENCE NOT WAIVER.
NO FAILURE OR DELAY ON THE PART