Common use of Cash Payments Clause in Contracts

Cash Payments. If requested by the Holder, the Company will make amortizing payments to the Holder (a "Payment," or collectively, the "Payments") on a monthly basis on the first day of each business day of each month while there is an outstanding balance on the Debenture, in an amount to be determined by the Holder and the Company based on the Company’s then current financial position. ("Payment Amount" or collectively, the "Payment Amounts"). In no event, shall the Payment be less than the Interest accruing on the outstanding balance of the Debenture. Notwithstanding any provision to the contrary in this Debenture, the Company may pay in full to the Holder the Face Amount, or any balance remaining thereon, in readily available funds, at any time and from time to time without penalty.

Appears in 7 contracts

Samples: Debenture Agreement (Challenger Powerboats, Inc.), Debenture Agreement (Challenger Powerboats, Inc.), Debenture Agreement (Challenger Powerboats, Inc.)

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Cash Payments. If requested by the Holder, the Company will make amortizing payments to the Holder (a "Payment," or collectively, the "Payments") on a monthly basis on the first day of each business day of each month while there is an outstanding balance on the DebenturePreferred, in an amount to be determined by the Holder and the Company based on the Company’s then current financial position. ("Payment Amount" or collectively, the "Payment Amounts"). In no event, shall the Payment be less than the Interest dividend accruing on the outstanding balance of the DebenturePreferred. Notwithstanding any provision to the contrary in this DebenturePreferred, the Company may pay in full to the Holder the Face Amount, or any balance remaining thereon, in readily available funds, at any time and from time to time without penalty.

Appears in 4 contracts

Samples: Convertible Redeemable Preferred Stock Agreement (Challenger Powerboats, Inc.), Redeemable Preferred Agreement (Challenger Powerboats, Inc.), Convertible Redeemable Preferred Stock Agreement (Challenger Powerboats, Inc.)

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