Examples of Principal Amount in a sentence
The Minimum Principal Amount of a Convertible Note is $50,000, unless otherwise agreed by the Company.
Simultaneously with execution and delivery to the Company of this Note and delivery of the applicable Principal Amount, the Investor will deliver to the Company a completed Note Accredited Investor Certification in the form attached hereto as Exhibit B, and Investor Profile in the form attached hereto as Exhibit C, and other forms as may be satisfactory to Company and its Placement Agent in their sole discretion.
Subject to a conversion pursuant to Section 7, interest on the outstanding portion of the Principal Amount shall accrue at a rate equal to six percent (6%) per annum, except that upon an Event of Default the interest rate shall be ten percent (10%) per annum (the “Maximum Rate”).
The Investor understands and agrees that the Company, in its sole discretion, reserves the right to accept or reject this or any other Convertible Note for any reason notwithstanding prior receipt by the Company of an executed Note and the applicable Principal Amount.
Each monthly payment shall be in an amount equal to the sum of (i) $2,500,000 of the outstanding Principal in the aggregate among this Note and all Other Notes (or the outstanding Principal if less than such amount) (the “Amortization Principal Amount”), plus (ii) the Payment Premium (as defined below) in respect of such Amortization Principal Amount, and (iii) accrued and unpaid interest hereunder as of each payment date.