Common use of CONVERSION REPAYMENT Clause in Contracts

CONVERSION REPAYMENT. (a) Payment of Monthly Amount in Cash or Common Stock. Each month by the tenth (10th) business day prior to each Amortization Date (the "Notice Date"), the Holder shall deliver to Borrower a written notice in the form of Exhibit B attached hereto converting the Monthly Amount payable on the next Repayment Date in either cash or Common Stock, or a combination of both (each, a "Repayment Notice"). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder an amount equal to 103% of the principal portion of the Monthly Amount due and owing to Holder on the Repayment Date. If the Holder converts all or a portion of the Monthly Amount in shares of Common Stock as provided herein, the number of such shares to be issued by the Borrower to the Holder on such Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "Fixed Conversion Price" means $5.00.

CONVERSION REPAYMENT. (a) Payment of Monthly Amount in Cash or Common Stock. Each month by the tenth (10th) business day prior to each Amortization Date (the "Notice Date"), the Holder shall deliver to Borrower a written notice in the form of Exhibit B attached hereto converting the Monthly Amount payable on the next Repayment Date in either cash or Common Stock, or a combination of both (each, a "Repayment Notice"). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder an amount equal to 103% of the principal portion of the Monthly Amount due and owing to Holder on the Repayment Date. If the Holder converts all or a portion of the Monthly Amount in shares of Common Stock as provided herein, the number of such shares to be issued by the Borrower to the Holder on such Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "Fixed Conversion Price" means $5.003.00.

CONVERSION REPAYMENT. (a) Payment of Monthly Amount in Cash or Common Stock. Each month by the tenth (10th) business day prior to each Amortization Date (the "Notice Date"), the Holder shall deliver to Borrower a written notice in the form of Exhibit B attached hereto converting the Monthly Amount payable on the next Repayment Date in either cash or Common Stock, or a combination of both (each, a "Repayment Notice"). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder an amount equal to 103% of the principal portion of the Monthly Amount due and owing to Holder on the Repayment Date. If the Holder converts all or a portion of the Monthly Amount in shares of Common Stock as provided herein, the number of such shares to be issued by the Borrower to the Holder on such Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "Fixed Conversion Price" means $5.004.00.

CONVERSION REPAYMENT. (a) Payment of Monthly Amount in Cash or Common Stock. Each month by the tenth fifth (10th5th) business day prior to each Amortization Date (the "Notice Date"), the Holder shall deliver to Borrower a written notice in the form of Exhibit B attached hereto converting the Monthly Amount payable on the next Repayment Date in either cash or Common Stock, or a combination of both (each, a "Repayment Notice"). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder an amount equal to 103102% of the principal portion of the Monthly Amount due and owing to Holder on the Repayment Date. If the Holder converts all or a portion of the Monthly Amount in shares of Common Stock as provided herein, the number of such shares to be issued by the Borrower to the Holder on such Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "Fixed Conversion Price" means $5.001.25.

CONVERSION REPAYMENT. (a) Payment of Monthly Amount in Cash or Common Stock2.1. PAYMENT OF MONTHLY AMOUNT IN CASH OR COMMON STOCK. Each month by the tenth fifth (10th5th) business day prior to each Amortization Date (the "Notice DateNOTICE DATE"), the Holder shall deliver to Borrower a written notice in the form of Exhibit B attached hereto converting the Monthly Amount payable on the next Repayment Date in either cash or Common Stock, or a combination of both (each, a "Repayment NoticeREPAYMENT NOTICE"). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder in an amount equal to 103102% of the principal portion of the Monthly Amount due and owing to Holder on the Repayment Date. If the Holder converts all or a portion of the Monthly Amount in shares of Common Stock as provided herein, the number of such shares to be issued by the Borrower to the Holder on such Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "Fixed Conversion PriceFIXED CONVERSION PRICE" means 0.37 until the first Two Million Dollars ($5.002,000,000) of Principal Axxxxx is converted into Common Stock hereunder, and $0.56 for all remaining amounts to be converted hereunder.

CONVERSION REPAYMENT. (a) Payment of Monthly Amount in Cash or Common Stock. Each month by the tenth fifth (10th5th) business day prior to each Amortization Date (the "Notice DateNOTICE DATE"), the Holder shall deliver to Borrower a written notice in the form of Exhibit B attached hereto converting the Monthly Amount payable on the next Repayment Date in either cash or Common Stock, or a combination of both (each, a "Repayment NoticeREPAYMENT NOTICE"). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder an amount equal to 103102% of the principal portion of the Monthly Amount due and owing to Holder on the Repayment Date. If the Holder converts all or a portion of the Monthly Amount in shares of Common Stock as provided herein, the number of such shares to be issued by the Borrower to the Holder on such Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, (x) the initial fixed conversion price with respect to Tranche A (the initial "TRANCHE A FIXED CONVERSION PRICE") means $0.23 and (y) the initial fixed conversion price with respect to Tranche B (the initial "TRANCHE B FIXED CONVERSION PRICE" and, together with the Tranche A Fixed Conversion Price" , each a "FIXED CONVERSION PRICE") means $5.000.26.

CONVERSION REPAYMENT. (a) Payment of Monthly Amount in Cash or Common Stock. Each month by the tenth fifth (10th5th) business day prior to each Amortization Repayment Date (the "“Notice Date"”), the Holder shall may deliver to Borrower a written notice in the form of Exhibit B attached hereto converting (each, a “Repayment Notice”) stating whether, according to the Conversion Criteria (as defined below), the Monthly Amount payable on the next Repayment Date shall be paid in either cash or Common Stock, or a combination of both (each, a "Repayment Notice")both. If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder in an amount equal to 103100% of the principal portion of the Monthly Amount due and owing to Holder on the Repayment Datesuch amount. If the Holder converts all or a portion of the Monthly Amount in shares of Common Stock as provided herein, the The number of such shares to be issued by the Borrower to the Holder on such Repayment Date (in respect of such portion of the Monthly Amount converted into in shares of Common Stock pursuant to Section 2.1(b)), shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in converted into shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "“Fixed Conversion Price" ” means $5.001.37.

CONVERSION REPAYMENT. (a) Payment of Monthly Amount in Cash or Common Stock2.1. PAYMENT OF MONTHLY AMOUNT IN CASH OR COMMON STOCK. Each month by the tenth fifth (10th5th) business day prior to each Amortization Date (the "Notice DateNOTICE DATE"), the Holder shall deliver to Borrower a written notice in the form of Exhibit B attached hereto converting the Monthly Amount payable on the next Repayment Date in either cash or Common Stock, or a combination of both (each, a "Repayment NoticeREPAYMENT NOTICE"). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder in an amount equal to 103102% of the principal portion of the Monthly Amount due and owing to Holder on the Repayment Date. If the Holder converts all or a portion of the Monthly Amount in shares of Common Stock as provided herein, the number of such shares to be issued by the Borrower to the Holder on such Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "Fixed Conversion PriceFIXED CONVERSION PRICE" means $5.000.56 (which has been determined on the date of this Note as an amount equal to 105% of the closing price of the Common Stock on the trading date immediately prior to the date hereof).

CONVERSION REPAYMENT. (a) Payment of Monthly Amount in Cash or Common Stock. Each month by Not later than the tenth fifth (10th5th) business day prior to each Amortization Repayment Date (the "Notice Date"), the Holder shall may deliver to Borrower a written notice in the form of Exhibit B attached hereto converting directing the Borrower to pay the Monthly Amount payable on the next Repayment Date in either cash or Common Stock, or a combination of both (each, a "Repayment Notice"). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then then, subject to Section 2.1(b), the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of In the Monthly Amount paid in cash on a Repayment Date, event the Borrower shall be paid required to the Holder an amount equal to 103% of the principal portion of the Monthly Amount due and owing to Holder on the Repayment Date. If the Holder converts all or a pay any portion of the Monthly Amount in cash, the Borrower shall pay to the Holder in respect to such payment an amount equal to 102% of such Monthly Amount. If the Holder elects to convert all or a portion of any Monthly Amount into shares of Common Stock as provided herein, the number of such shares to be issued by the Borrower to the Holder on such Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "Fixed Conversion Price" means $5.000.66.

CONVERSION REPAYMENT. (a) Payment of Monthly Amount in Cash or Common Stock. Each month by the tenth fifth (10th5th) business day prior to each Amortization Date (the "Notice DateNOTICE DATE"), the Holder shall deliver to Borrower a written notice in the form of Exhibit B attached hereto converting the Monthly Amount payable on the next Repayment Date in either cash or Common Stock, or a combination of both (each, a "Repayment NoticeREPAYMENT NOTICE"). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder an amount equal to 103102% of the principal portion of the Monthly Amount due and owing to Holder on the Repayment Date. If the Holder converts all or a portion of the Monthly Amount in shares of Common Stock as provided herein, the number of such shares to be issued by the Borrower to the Holder on such Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "Fixed Conversion PriceFIXED CONVERSION PRICE" means $5.000.70.

CONVERSION REPAYMENT. 2.1 (a) Payment of Monthly Amount in Cash or Common Stock. Each month by the tenth fifth (10th5th) business day prior to each Amortization Date (the "“Notice Date"”), the Holder shall deliver to Borrower a written notice in the form of Exhibit B attached hereto converting the Monthly Amount payable on the next Repayment Date in either cash or Common Stock, or a combination of both (each, a "“Repayment Notice"”). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder an amount equal to 103102% of the principal portion of the Monthly Amount due and owing to Holder on the Repayment Date. If the Holder converts all or a portion of the Monthly Amount in shares of Common Stock as provided herein, the number of such shares to be issued by the Borrower to the Holder on such Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "“Fixed Conversion Price" ” means $5.001.17 (which has been determined on the date of this Note as an amount equal to 102% of the average closing price for the ten (10) trading days immediately prior to the date of this Note).

CONVERSION REPAYMENT. (a) Payment of Monthly Amount in Cash or Common Stock. Each month by the tenth fifth (10th5th) business day prior to each Amortization Date (the "Notice Date"), the Holder shall deliver to Borrower a written notice in the form of Exhibit B attached hereto converting the Monthly Amount payable on the next Repayment Date in either cash or Common Stock, or a combination of both (each, a "Repayment Notice"). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder an amount equal to 103102% of the principal portion of the Monthly Amount due and owing to Holder on the Repayment Date. If the Holder converts all or a portion of the Monthly Amount in shares of Common Stock as provided herein, the number of such shares to be issued by the Borrower to the Holder on such Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "Fixed Conversion Price" means $5.00.Fixed

CONVERSION REPAYMENT. 2.1 (a) Payment of Monthly Amount in Cash or Common Stock. Each month by the tenth fifth (10th5th) business day prior to each Amortization Date (the "Notice Date"), the Holder shall deliver to Borrower a written notice in the form of Exhibit B attached hereto converting the Monthly Amount payable on the next Repayment Date in either cash or Common Stock, or a combination of both (each, a "Repayment Notice"). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder an amount equal to 103101% of the principal portion of the Monthly Amount due and owing to Holder on the Repayment Date. If the Holder converts all or a portion of the Monthly Amount in shares of Common Stock as provided herein, the number of such shares to be issued by the Borrower to the Holder on such Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "Fixed Conversion Price" means $5.000.25.

CONVERSION REPAYMENT. (a) Payment of Monthly Amount in Cash or Common Stock. Each month by the tenth fifth (10th5th) business day prior to each Amortization Date (the "“Notice Date"”), the Holder shall deliver to Borrower a written notice in the form of Exhibit B attached hereto converting the Monthly Amount payable on the next Repayment Date in either cash or Common Stock, or a combination of both (each, a "“Repayment Notice"”). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder an amount equal to 103102% of the principal portion of the Monthly Amount due and owing to Holder on the Repayment Date. ; If the Holder converts all or a portion of the Monthly Amount in shares of Common Stock as provided herein, the number of such shares to be issued by the Borrower to the Holder on such Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "“Fixed Conversion Price" ” means $5.002.25 (which has been determined on the date of this Note as an amount equal to 105% of the average closing price for the twenty two (22) trading days immediately prior to the date of this Note).

CONVERSION REPAYMENT. (a) Payment of Monthly Amount in Cash or Common StockPAYMENT OF MONTHLY AMOUNT IN CASH OR ORDINARY Shares. Each month by the tenth fifth (10th5th) business day prior to each Amortization Date (the "Notice DateNOTICE DATE"), the Holder shall deliver to Borrower a written notice Monthly Conversion Notice in the form of Exhibit EXHIBIT B attached hereto converting the Monthly Amount payable on the next Repayment Date in either cash or Common StockOrdinary Shares, or a combination of both (each, a "Repayment NoticeREPAYMENT NOTICE"). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then then, the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder an amount equal to 103100% of the principal such unconverted portion of the Monthly Amount due and owing to Holder on the Repayment Date. If the Holder converts all or a portion of the Monthly Amount in shares of Common Stock into Ordinary Shares as provided herein, the number of such shares to be issued by the Borrower to the Holder on such Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common StockOrdinary Shares, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "Fixed Conversion PriceFIXED CONVERSION PRICE" means $5.003.08 (which has been determined on the date of this Note as an amount equal to 110% of the average closing price for the twenty (20) trading days immediately prior to the date of this Note, but in no event shall the fixed conversion price be less than USD$3.

CONVERSION REPAYMENT. 2.1 (a) Payment of Monthly Amount in Cash or Common Stock. Each month by By the tenth fifth (10th5th) business day prior to each Amortization Date (the "Notice Date"), the Holder shall deliver to Borrower a written notice in the form of Exhibit B A attached hereto converting indicating that portion of the Monthly Amount payable on the next that Repayment Date in either to be satisfied by the payment of cash or the issuance of Common Stock upon conversion of all or a portion of the Monthly Amount into shares of Common Stock, or a combination of both (each, a "Repayment Notice"). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder an amount equal to 103102% of the principal portion of the Monthly Amount due and owing to Holder on the Repayment Date. If the Holder converts all or a portion of the Monthly Amount in into shares of Common Stock as provided herein, the number of such shares to be issued by the Borrower to the Holder on such Repayment Date shall be the number determined by dividing (x) the dollar portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price. Any amounts converted by the Holder pursuant to this Section 2.2 shall be deemed to constitute payments of outstanding fees, interest and principal arising in connection with Monthly Amounts. For purposes hereof, the initial "Fixed Conversion Price" means $5.000.24.

CONVERSION REPAYMENT. (a) Payment of Monthly Amount in Cash or Class A Common Stock. Each month by the tenth fifth (10th5th) business day prior to each Amortization Date (the "Notice DateNOTICE DATE"), the Holder shall deliver to Borrower a written notice in the form of Exhibit B attached hereto converting the Monthly Amount payable on the next Repayment Date in either cash or Class A Common Stock, or a combination of both (each, a "Repayment NoticeREPAYMENT NOTICE"). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder an amount equal to 103101% of the principal portion of the Monthly Amount due and owing to Holder on the Repayment Date. If the Holder converts all or a portion of the Monthly Amount in shares of Class A Common Stock as provided herein, the number of such shares to be issued by the Borrower to the Holder on such Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Class A Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "Fixed Conversion PriceFIXED CONVERSION PRICE" means $5.000.40.

CONVERSION REPAYMENT. (a) Payment of Monthly Amount in Cash or Common Stock. Each month by the tenth (10th) business day prior to each Amortization Date (the "Notice Date"), the Holder shall deliver to Borrower a written notice in the form of Exhibit B attached hereto converting the Monthly Amount payable on the next Repayment Date in either cash or Common Stock, or a combination of both (each, a "Repayment Notice"). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder an amount equal to 103101% of the principal portion of the Monthly Amount due and owing to Holder on the Repayment Date. If the Holder converts all or a portion of the Monthly Amount in shares of Common Stock as provided herein, the number of such shares to be issued by the Borrower to the Holder on such Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "Fixed Conversion Price" means $5.000.35.