23 Double Payment Default

23 Double Payment Default. During any given 12 month period, in which HVT is twice delinquent in payments due under Article 7 (Royalties), and on the first 2 3 delinquent payment iPIX has provided 60 days written notice of such delinquency, and on the second delinquent payment, iPIX has provided 60 days written notice and follow-up telephone calls to HVT's general counsel and its chief financial officer, HVT shall be deemed... in "Double Payment Default" if the second payment is not made payment with 15 days of such telephone calls or such 60 days, whichever is later; View More