Common use of Debenture Redemption Clause in Contracts

Debenture Redemption. 1.1. The Company agrees to redeem from Holder, and Holder agrees to sell back to the Company, the Debenture for an aggregate payment of Seventy-Six Thousand Dollars ($76,000.00) (the “Redemption Price”). In addition to the payment of the Redemption Price, the Company shall pay at the Closing (as defined below) all accrued but unpaid interest on the Debenture as of the date of Closing. 1.2. The redemption of the Debenture (the “Redemption”) shall take place at the offices of Xxxxxx & Xxxxxxx LLP, 00 Xxxxxxxxxx Xxxxx, Xxxxx 000, Xxxxxx, Xxxxxxxxxx 00000, at 1:00 P.M. Pacific Time on October 17, 2008, or at such other time and place as the Company and Holder mutually agree orally or in writing (which time and place are designated as the “Closing”). At the Closing, Holder shall deliver to the Company the original of the Debenture against payment by the Company of the amounts set forth in Section 1.1 by check, wire transfer or any combination thereof. Notwithstanding the foregoing, Holder acknowledges and agrees that, upon and as of the payment by the Company of the amounts set forth in Section 1.1, whether or not Holder has delivered and surrendered the original of the Debenture to the Company, the Debenture shall be deemed null and void and cancelled in its entirety and Holder shall have no further rights with respect to or under the Debenture, whether such rights shall have accrued prior to or after the date hereof.

Debenture Redemption. 1.1. The Company agrees to redeem from Holder, and Holder agrees to sell back to the Company, the Debenture for an aggregate payment of Seventy-Six Thousand Dollars ($76,000.00) 170,000 (the “Aggregate Redemption Price”). In addition to the payment of the Aggregate Redemption Price, the Company shall pay at the Closing (as defined below) all accrued but unpaid interest on the Debenture as of the date of Closing. 1.2. The redemption of the Debenture (the “Redemption”) shall take place at the offices of Xxxxxx Dxxxxx & Xxxxxxx Whitney LLP, 00 30 Xxxxxxxxxx Xxxxx, Xxxxx 000, Xxxxxx, Xxxxxxxxxx 00000, at 1:00 P.M. Pacific Time on October 17February 27, 2008, or at such other time and place as the Company and Holder mutually agree orally or in writing (which time and place are designated as the “Closing”). At the Closing, Holder shall deliver to the Company the original of the Debenture against payment by the Company of the amounts set forth in Section 1.1 by check, wire transfer or any combination thereof. Notwithstanding the foregoing, Holder acknowledges and agrees that, upon and as of the payment by the Company of the amounts set forth in Section 1.1, whether or not Holder has delivered and surrendered the original of the Debenture to the Company, the Debenture shall be deemed null and void and cancelled in its entirety and Holder shall have no further rights with respect to or under the Debenture, whether such rights shall have accrued prior to or after the date hereof.

Debenture Redemption. 1.1. The Company agrees to redeem from Holder, and Holder agrees to sell back to the Company, the Debenture for an aggregate payment of Seventy-Six Thousand Dollars ($76,000.00) 553,714.65 (the “Aggregate Redemption Price”). In addition to the payment of the Aggregate Redemption Price, the Company shall pay at the Closing (as defined below) all accrued but unpaid interest on the Debenture as of the date of Closing. 1.2. The redemption of the Debenture (the “Redemption”) shall take place at the offices of Xxxxxx Dxxxxx & Xxxxxxx Wxxxxxx LLP, 00 30 Xxxxxxxxxx Xxxxx, Xxxxx 000, Xxxxxx, Xxxxxxxxxx 00000, at 1:00 P.M. Pacific Time on October 17February 27, 2008, or at such other time and place as the Company and Holder mutually agree orally or in writing (which time and place are designated as the “Closing”). At the Closing, Holder shall deliver to the Company the original of the Debenture against payment by the Company of the amounts set forth in Section 1.1 by check, wire transfer or any combination thereof. Notwithstanding the foregoing, Holder acknowledges and agrees that, upon and as of the payment by the Company of the amounts set forth in Section 1.1, whether or not Holder has delivered and surrendered the original of the Debenture to the Company, the Debenture shall be deemed null and void and cancelled in its entirety and Holder shall have no further rights with respect to or under the Debenture, whether such rights shall have accrued prior to or after the date hereof.

Debenture Redemption. 1.1. The Company agrees to redeem from Holder, and Holder agrees to sell back to the Company, the Debenture for an aggregate payment of Seventy-Six Thousand Dollars ($76,000.00) 126,285.35 (the “Aggregate Redemption Price”). In addition to the payment of the Aggregate Redemption Price, the Company shall pay at the Closing (as defined below) all accrued but unpaid interest on the Debenture as of the date of Closing. 1.2. The redemption of the Debenture (the “Redemption”) shall take place at the offices of Xxxxxx Dxxxxx & Xxxxxxx Whitney LLP, 00 30 Xxxxxxxxxx Xxxxx, Xxxxx 000, Xxxxxx, Xxxxxxxxxx 00000, at 1:00 P.M. Pacific Time on October 17February 27, 2008, or at such other time and place as the Company and Holder mutually agree orally or in writing (which time and place are designated as the “Closing”). At the Closing, Holder shall deliver to the Company the original of the Debenture against payment by the Company of the amounts set forth in Section 1.1 by check, wire transfer or any combination thereof. Notwithstanding the foregoing, Holder acknowledges and agrees that, upon and as of the payment by the Company of the amounts set forth in Section 1.1, whether or not Holder has delivered and surrendered the original of the Debenture to the Company, the Debenture shall be deemed null and void and cancelled in its entirety and Holder shall have no further rights with respect to or under the Debenture, whether such rights shall have accrued prior to or after the date hereof.

Debenture Redemption. 1.1. The Company agrees to redeem from Holder, and Holder agrees to sell back to the Company, the Debenture for an aggregate a payment of Seventy-Six Thousand Dollars ($76,000.00$ ) (the “Redemption Price”). In addition to the payment of the Redemption Price, the Company shall pay at the Closing (as defined below) all accrued but unpaid interest on the Debenture as of the date of Closing. 1.2. The redemption of the Debenture (the “Redemption”) shall take place at the offices of Xxxxxx & Xxxxxxx LLP, 00 Xxxxxxxxxx Xxxxx, Xxxxx 000, Xxxxxx, Xxxxxxxxxx 00000, at 1:00 P.M. Pacific Time on October 17January 9, 20082009, or at such other time and place as the Company and Holder mutually agree orally or in writing (which time and place are designated as the “Closing”). At the Closing, Holder shall deliver to the Company the original of the Debenture against payment by the Company of the amounts set forth in Section 1.1 by check, wire transfer or any combination thereof. Notwithstanding the foregoing, Holder acknowledges and agrees that, upon and as of the payment by the Company of the amounts set forth in Section 1.1, whether or not Holder has delivered and surrendered the original of the Debenture to the Company, the Debenture shall be deemed null and void and cancelled in its entirety and Holder shall have no further rights with respect to or under the Debenture, whether such rights shall have accrued prior to or after the date hereof.