Common use of Absolute Payment Obligation; Limitation on Prepayment Clause in Contracts

Absolute Payment Obligation; Limitation on Prepayment. Except as expressly provided herein, no provision of this Debenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, and interest on, this Debenture at the time, place, and rate, and in the coin or currency, herein prescribed. This Debenture is a direct obligation of the Company. This Debenture ranks pari passu with all other Debentures now or hereafter issued under the terms set forth herein. The Company may not prepay any portion of the outstanding principal amount on the Debentures except in accordance with Section 5 hereof.

Appears in 3 contracts

Samples: Convertible Debenture Purchase Agreement (Scores Holding Co Inc), Escrow Agreement (Scores Holding Co Inc), Escrow Agreement (Scores Holding Co Inc)

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Absolute Payment Obligation; Limitation on Prepayment. Except as expressly provided herein, in the Purchase Agreement, or in the Note C, no provision of this Debenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, and interest on, this Debenture at the time, place, and rate, and in the coin or currency, herein prescribed. This Debenture is a direct obligation of the Company. This Debenture ranks pari passu with all other Debentures now or hereafter issued under the terms set forth herein. The Company may not prepay any portion of the outstanding principal amount on the Debentures except in accordance with Section the Purchase Agreement or Sections 4(c)(i) or 5 hereof.

Appears in 1 contract

Samples: Convertible Debenture Purchase Agreement (Reality Wireless Networks Inc)

Absolute Payment Obligation; Limitation on Prepayment. Except as expressly provided herein, no provision of this Debenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, and interest on, this Debenture at the time, place, and rate, and in the coin or currency, herein prescribed. This Debenture is a direct obligation of the Company. This Debenture ranks pari passu PARI PASSU with all other Debentures now or hereafter issued under the terms set forth herein. The Company may not prepay any portion of the outstanding principal amount on the Debentures except in accordance with Section 5 hereof.

Appears in 1 contract

Samples: Convertible Debenture Purchase Agreement (Accord Advanced Technologies Inc)

Absolute Payment Obligation; Limitation on Prepayment. Except as expressly provided herein, in the Purchase Agreement, or in the Note B, no provision of this Debenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, and interest on, this Debenture at the time, place, and rate, and in the coin or currency, herein prescribed. This Debenture is a direct obligation of the Company. This Debenture ranks pari passu with all other Debentures now or hereafter issued under the terms set forth herein. The Company may not prepay any portion of the outstanding principal amount on the Debentures except in accordance with Section the Purchase Agreement or Sections 4(c)(i) or 5 hereof.

Appears in 1 contract

Samples: Convertible Debenture Purchase Agreement (Reality Wireless Networks Inc)

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Absolute Payment Obligation; Limitation on Prepayment. Except as expressly provided herein, no provision of this Debenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, and interest on, this Debenture at the time, place, and rate, and in the coin or currency, herein prescribed. This Debenture is a direct obligation of the Company. This Debenture ranks pari passu with all other Debentures now or hereafter issued under the terms set forth herein. The Company may not prepay any portion of the outstanding principal amount on the Debentures except in accordance with Section the Purchase Agreement or Sections 4(c)(i) or 5 hereof.

Appears in 1 contract

Samples: Convertible Debenture Purchase Agreement (Reality Wireless Networks Inc)

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