NOTICE OF DEFAULTDefault Notice Forbearance Agreement |
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ELANDIA, INC.. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
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Search Default Notice Forbearance Agreement by:
AMERIKA SAMOA BANK
17 April, 2007
Mr M Rollins
Chief Financial Officer
Elandia, Inc.
1500 Cordova Road, Suite 312
Fort Lauderdale, FL 33316
U.S.A.
Dear Mr Rollins
NOTICE OF EVENT OF DEFAULT- AST Telecom, LLC (and Parent)
I refer to our loan documentation dated 30 October 2006.
The following events of default has occurred and the Bank is entitled to exercise the rights given to it upon default:
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• The Interest Cover ratio to be no less than 1.50 times. |
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