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Common use of Amortization Payments Clause in Contracts

Amortization Payments. Starting on the six (6) month anniversary of the Original Issuance Date and continuing on each of the following six (6) successive months thereafter (each and "Amortization Payment Date"), the Borrower shall redeem one-fourth (1/6) of the face amount of this Note and guaranteed interest (each, an "Amortization Payment") in accordance with the attached Amortization Schedule (Appendix A). Each Amortization Payment shall, at the option of the Borrower, be made in cash or, subject to the Borrower complying with the Equity Conditions be made in Common Stock pursuant to the Amortization Conversion Rate.

Appears in 2 contracts

Samples: Convertible Security Agreement (Nac Global Technologies, Inc.), Securities Purchase Agreement (Nac Global Technologies, Inc.)

Amortization Payments. Starting on the six (6) seventh month anniversary of after the Original Issuance Issue Date and continuing on each of the following six eleven (611) successive months thereafter (each and "Amortization Payment Date"), the Borrower shall redeem one-fourth twelfth (1/61/12th) of the face amount of this Note and guaranteed interest (each, an "Amortization Payment") in accordance with the attached Amortization Schedule (Appendix A). Each Amortization Payment shall, at the option of the Borrower, be made in cash or, subject to the Borrower complying with the Equity Conditions be made in Common Stock pursuant to the Amortization Conversion Rate.

Appears in 1 contract

Samples: Convertible Security Agreement (Terra Tech Corp.)

Amortization Payments. Starting on the six sixth (66th) month anniversary of after the Original Issuance Issue Date and continuing on each of the following six (6) successive months thereafter (each and "Amortization Payment Date"), the Borrower shall redeem one-fourth twelfth (1/61/12th) of the face amount of this Note and guaranteed interest (each, an "Amortization Payment") in accordance with the attached Amortization Schedule (Appendix A). Each Amortization Payment shall, at the option of the Borrower, be made in cash or, subject to the Borrower complying with the Equity Conditions be made in Common Stock pursuant to the Amortization Conversion Rate.

Appears in 1 contract

Samples: Convertible Security Agreement (Directview Holdings Inc)

Amortization Payments. Starting on the six (6) sixth month anniversary of after the Original Issuance Issue Date and continuing on each of the following six twelve (612) successive months thereafter (each and "Amortization Payment Date"), the Borrower shall redeem one-fourth thirteenth (1/61/13th) of the face amount of this Note and guaranteed interest (each, an "Amortization Payment") in accordance with the attached Amortization Schedule (Appendix A). Each Amortization Payment shall, at the option of the Borrower, be made in cash or, subject to the Borrower complying with the Equity Conditions be made in Common Stock pursuant to the Amortization Conversion Rate.

Appears in 1 contract

Samples: Convertible Security Agreement (Victory Electronic Cigarettes Corp)

Amortization Payments. Starting on the six (6) sixth month anniversary of after the Original Issuance Issue Date and continuing on each of the following six seven (67) successive months thereafter (each and "Amortization Payment Date"), the Borrower shall redeem one-fourth seventh (1/61/7th) of the face amount of this Note Debenture and guaranteed interest (each, an "Amortization Payment") in accordance with the attached Amortization Schedule (Appendix A). Each Amortization Payment shall, at the option of the Borrower, be made in cash or, subject to the Borrower complying with the Equity Conditions be made in Common Stock pursuant to the Amortization Conversion Rate.

Appears in 1 contract

Samples: Convertible Security Agreement (Medbox, Inc.)

Amortization Payments. Starting on the six (6) month anniversary of the Original Issuance Date and continuing on each of the following six (6) successive months thereafter (each and "Amortization Payment Date"), the Borrower shall redeem one-fourth (1/6) of the face amount of this Note and guaranteed interest (each, an "Amortization Payment") in accordance with the attached Amortization Schedule (Appendix A). Each Amortization Payment shall, at the option of the Borrower, be made in cash or, subject to the Borrower complying with the Equity Conditions be made in Common Stock pursuant to the Amortization Conversion Rate.

Appears in 1 contract

Samples: Convertible Security Agreement (Nac Global Technologies, Inc.)

Amortization Payments. Starting on the six sixth (66th) month anniversary of after the Original Issuance Issue Date and continuing on each of the following six (6) successive months thereafter (each and "an “Amortization Payment Date"), the Borrower shall redeem one-fourth twelfth (1/61/12th) of the face amount of this Note and guaranteed interest (each, an "Amortization Payment") in accordance with the attached Amortization Schedule (Appendix A). Each Amortization Payment shall, at the option of the BorrowerHolder, be made in cash or, subject to the Borrower complying with the Equity Conditions be made in Common Stock pursuant to the Amortization Conversion Rate.

Appears in 1 contract

Samples: Convertible Security Agreement (Directview Holdings Inc)