Additional Principal. Lender may, at any time with Borrower's consent, increase the principal amount of the Investor Loan. If the principal of the original Investor Loan is subsequently increased, (a) Lender shall deliver the original Note to Borrower for cancellation, and Borrower shall execute and deliver a new note evidencing the increased amount of the Investor Loan ("New Note"), (b) interest at the Interest Rate shall accrue on any such additional principal starting from the date on which the additional amount is deposited, and (c) the entire principal amount shall be repaid on the date described in Section 3 above, or on any other date that shall be agreed upon in writing by Lender and Borrower. Upon increase of the principal amount of the Investor Loan by delivery of the New Note evidencing such increased amount, the parties agree that this Agreement shall thereby automatically be amended such that the total amount of the Investor Loan, as evidenced by the New Note, shall constitute the "Investor Loan" for purposes of this Agreement, and the New Note shall constitute the "Note" for purposes of this Agreement. By executing and delivering the New Note, Borrower thereby certifies that all representations and warranties made by Borrower in this Agreement are true and correct as of the date of the New Note.
Additional Principal. As provided in Note A and Note B (each individually referred to hereinafter as a "Note" and together as the "Notes"), the principal amount of Note B shall be increased from time to time, automatically and without any action by the Company or Digi, as the accrued interest on Note A is converted into principal of Note B.
Additional Principal. This Note may be amended from time to time to add to the Principal Sum in accordance with Section 2 of the Settlement Agreement.
Additional Principal. From time to time, the Company shall have the right to make cash loans from its operating cash in excess of the Company’s operating needs to the Parent and/or one more of its other subsidiaries which loan agreement between the Company and debtor(s) shall be in writing with interest as provided herein and secured, as further provided by the terms of this Note. A copy of each loan agreement shall be consecutively number and delivered to the Holder and appended to this Note. Each loan agreement’s amount shall become Additional Principal of this Note and bear interest from the date of the loan. The Additional Principal of this Note may be prepaid in whole or in part at any time prior to the Maturity Date. It is specifically understood that the Company shall be under no obligation to make cash loans totaling more than Five Hundred Thousand Dollars ($500,000) during the term of this Note. Xxxxxx’s and Maker’s Election re Fifteen Millions Shares of Datameg Common Stock. The Principal Shareholders shall be issued, pro rata, fifteen million shares of Datameg Corporation’s unregistered common stock (the "Shares") as provided in the Merger Agreement. The Shares are to be held in escrow by Datameg Corporation without restrictive legends other than as required by law. The Holder may at any time during the term of this Note, upon sixty (60) day written notice, deliver its election to the Maker and Datameg Corporation to return the Shares to Datameg Corporation and the principal amount of the of this Note shall upon return of the Shares be increased by Five Hundred Thousand Dollars ($500,000), at which time this Note and any additional loans of the Company shall become immediately due and payable (the Election Period"). During the Election Period, Holder may, in writing, waive its right to elect to return the Shares and upon delivery of the waiver to Maker and Datameg Corporation the amounts due under the Note shall thereupon be deemed satisfied in full upon delivery of the Shares to Holder.
Additional Principal. Holder hereby agrees to loan to Borrower an additional $12,223, thereby increasing the face amount of the Note to $132,223 (the "Additional Principal"); provided, however, that the Additional Principal carries an original issue discount of $1,223 to cover the Holder's monitoring costs associated with the Existing Note and the Additional Principal, which is included in the Additional Principal balance, and which such amount of original issue discount will not be disbursed to Borrower.
Additional Principal. From time to time, the Company shall have the right to make cash loans from its operating cash in excess of the Company’s operating needs to the Parent and/or one more of its other subsidiaries which loan agreement between the Company and debtor(s) shall be in writing with interest as provided herein and secured, as further provided by the terms of this Note. A copy of each loan agreement shall be consecutively number and delivered to the Holder and appended to this Note. Each loan agreement’s amount shall become Additional Principal of this Note and bear interest from the date of the loan. The Additional Principal of this Note may be prepaid in whole or in part at any time prior to the Maturity Date. It is specifically understood that the Company shall be under no obligation to make cash loans totaling more than Five Hundred Thousand Dollars ($500,000) during the term of this Note.
Additional Principal. In consideration of its work in assisting the Company with its recapitalization and extension and modifications of the Surrendered Notes, the principal amount of the New notes issued to Alpha Capital Anstalt (“Alpha “) shall be increased by five percent (5%) of the total amount owed on the Surrendered Notes held by Alpha.
Additional Principal. For so long as this Note is held by Coty Inc., in lieu of issuing additional notes as contemplated by Section 3.5 of the Asset Purchase Agreement, the principal amount of this Note may be increased, at the option of the Obligor and upon prior written notice to Coty Inc., by adding the In- Kind Amount (as defined in the Asset Purchase Agreement), if any, payable pursuant to Section 3.5 of the Asset Purchase Agreement to the then existing Total Principal.
