Common use of Convertible Notes Clause in Contracts

Convertible Notes. The Company was obligated under Convertible Notes issued from November 5, 2014 through and including February 2, 2015, aggregating principal amounts totaling $579,500 and bearing interest of 10% per annum and maturing on September 15, 2016. As of March 31, 2018, there was $245,000 of original principal plus accrued interest of $95,737 for a total of $340,737 due. As of September 30, 2016, outstanding Notes and accrued interest became due and payable. In October 2016, as reported on Forms 8-K, certain noteholders notified the Company that such noteholders’ Notes were in default changing the interest rate from 10% to 12% on such defaulted Notes.

Appears in 2 contracts

Samples: Exchange Agreement (RespireRx Pharmaceuticals Inc.), Exchange Agreement (RespireRx Pharmaceuticals Inc.)

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Convertible Notes. The Company was is obligated under Convertible Notes issued from November 5, 2014 through and including February 2, 2015, aggregating principal amounts totaling $579,500 and bearing interest of 10% per annum and maturing on September 15, 2016. As of March 31September 15, 2018, 2016 there was $245,000 276,000 of original principal plus accrued interest of $95,737 53,261 for a total of $340,737 329,261 due. As of September 30, 2016, outstanding Notes notes and accrued interest became due and payable. In October 2016, as reported on Forms 8-K, certain noteholders notified the Company that such noteholders’ Notes notes were in default changing the interest rate from 10% to 12% on such defaulted Notesnotes.

Appears in 2 contracts

Samples: Common Stock and Warrant Purchase Agreement (RespireRx Pharmaceuticals Inc.), Common Stock and Warrant Purchase Agreement (RespireRx Pharmaceuticals Inc.)

Convertible Notes. The Company was obligated under Convertible Notes issued from November 5, 2014 through and including February 2, 2015, aggregating principal amounts totaling $579,500 and bearing interest of 10% per annum and maturing on September 15, 2016. As of March December 31, 2018, 2017 there was $245,000 276,000 of original principal plus accrued interest of $95,737 98,646 for a total of $340,737 374,646 due. As of September 30, 2016, outstanding Notes and accrued interest became due and payable. In October 2016, as reported on Forms 8-K, certain noteholders notified the Company that such noteholders’ Notes notes were in default changing the interest rate from 10% to 12% on such defaulted Notesnotes.

Appears in 1 contract

Samples: Common Stock and Warrant Purchase Agreement (RespireRx Pharmaceuticals Inc.)

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Convertible Notes. The Company was obligated under Convertible Notes issued from November 5, 2014 through and including February 2, 2015, aggregating principal amounts totaling $579,500 and bearing interest of 10% per annum and maturing on September 15, 2016. As of March 31, 2018, 2017 there was $245,000 276,000 of original principal plus accrued interest of $95,737 71,970 for a total of $340,737 347,970 due. As of September 30, 2016, outstanding Notes notes and accrued interest became due and payable. In October 2016, as reported on Forms 8-K, certain noteholders notified the Company that such noteholders’ Notes notes were in default changing the interest rate from 10% to 12% on such defaulted Notesnotes.

Appears in 1 contract

Samples: Common Stock and Warrant Purchase Agreement (RespireRx Pharmaceuticals Inc.)

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