Extension Consideration. In consideration for the foregoing extension, the Company shall pay to the Investor the interest due under the Note as of July 7, 2022 to the Maturity Date in accordance with the terms and conditions of the Note and Note Purchase Agreement. Investor hereby waives any and all Events of Default existing under the Note Purchase Agreement and the Note as of the date of this Agreement.
Extension Consideration. In consideration of Owner’s and Lender’s agreement to provide the extensions set forth in Paragraphs 2 and 3 above, Buyer agrees to pay to Lender pursuant to the wire transfer instructions (the “Lender’s Wire Transfer Instructions”) set forth on Exhibit “A” attached hereto and by this reference made a part hereof, the sum of One Million United States Dollars (US$1,000,000.00) within two (2) business days of the execution of this Amendment by all Parties (the “Extension Consideration”). The Extension Consideration shall be in addition to and shall not be applied toward the payment of, or credited against, the Purchase Price at Closing.
Extension Consideration. In consideration for the Seller’s agreement to further extend the Scheduled Closing Date, Buyer agrees to pay to Seller, or to any affiliate of Seller that Seller may designate by written notice to Buyer, an amount (the “Extension Payment”) equal to fifty percent (50%) of the amount of property management fees paid to any property manager retained by Buyer (whether or not such property manager is affiliated with Buyer) for property management services at the Property (but excluding any other fees such as construction management fees, leasing commissions, asset management fees and disposition and refinancing fees), at market rates of not less than 3% of gross revenues, for the period commencing on the Closing Date and continuing until the earlier of (i) the date Buyer sells the Property to a non-affiliated third party purchaser in a bona fide arms-length transaction, or (ii) two (2) calendar years after the Closing Date (the “Payment Period”). The Extension Payment shall be paid to Seller on a monthly basis at the same time that such property manager receives its fee for managing the Property and shall be prorated for any partial months within the Payment Period. Seller shall not have the right to record a memorandum of the agreements contained in this Section 3 against the Property. In the event Seller files any action or suit against Buyer or any successor owner of the Property to enforce Buyer’s obligations hereunder, Seller shall be entitled to recover its fees as provided in Section 18.3 of the Original Agreement. The obligations of Buyer under this Section 3 shall survive the Closing and the delivery of the Deed and shall not be subject to the limitations set forth in Section 13.3 of the Original Agreement unless the Closing fails to occur, in which case the limitations set forth in Section 13.3 of the Original Agreement shall apply.
Extension Consideration. In addition to the terms and conditions set forth above, Statmon agrees to the following:
(a) Statmon to continue accruing penalty interest at 15% per annum, plus, 25,000 shares per month. Statmon confirms it has instructed its transfer agent to immediately issue all outstanding penalty share certificates due the Holder pursuant to the terms of the Note Agreements, as amended up to and including December 31, 2003;
(b) Statmon hereby agrees to issue to Holder an additional one-time grant of 200,000 shares of its common stock and to instruct its transfer agent to immediately issue all share certificates reflecting such additional shares;
(c) Statmon undertakes to include all the Holders' shares of Common stock in its first Securities and Exchange Commission ("SEC") registration statement filing under the Securities Act of 1933. The timetable for such filing shall not be later than December 31, 2003. Notwithstanding the foregoing, the Registration Rights Agreement made as of October 12, 2001, by and between Statmon and Thieme Consulting, Inc., shall remain in full force and effect.
(d) Statmon agrees that, should its right to terminate the Harris Distribution Agreement become exercisable at any time durxxx xxe term of this Agreement and while amounts under the Notes are still outstanding, Statmon will immediately notify Holder of such right. Moreover, should Holder request that Statmon exercise its right to terminate the Harris Distribution Agreement during any time that Statmon has the xxxxx to do so, Statmon will immediately take all steps to terminate the Harris Distribution Agreement.
Extension Consideration. Within three (3) business days of the Effective Date and as consideration for an extension of the Maturity Date of the Note as set forth herein, Makers shall cause to be issued and delivered to Payee Twenty Thousand (20,000) shares of EOS Petro Inc. common stock (collectively, the "Extension Consideration"). The Extension Consideration shall not be applied in satisfaction of any amounts or obligations owing under the Note but is being given solely in exchange for an extension of the Maturity Date.
Extension Consideration. In consideration for the foregoing extension, the Company shall pay to the Investor the interest due under the Note from May 14, 2023 to the Maturity Date in accordance with the terms and conditions of the Note and Purchase Agreement. Investor hereby waives any and all Events of Default existing under the Purchase Agreement and the Note as of May 14, 2023 through the date hereof, which waiver cures any Event of Default as of the date hereof, and waives any right to receive Default Interest or any additional fees, penalties and charges, except for a delinquency charge of $5,000.00 per month for each full month from May 14, 2023 until July 31, 2023 (“Delinquency Charge”) under the Note.
Extension Consideration. Also at the Extension Closing (as defined below), the Company shall issue to each Investor a number of shares of Common Stock determined by: (x) multiplying 5% by the Investor’s Principal Amount (y) divided by $1.00, rounded up to the next whole share (the “Extension Stock”). Additionally, at the Extension Closing, the Company will pay to the Investors, in cash, an aggregate amount equal to one percent (1%) of the Principal Amount of the Notes, pro rata based on each Investor’s respective investment in the February Offering, as additional interest for the period beginning on February 28, 2011 and ending on March 28, 2010. For purposes of this Agreement, “Extension Closing” means the date on which this Agreement has been executed and delivered by the parties hereto, and all conditions precedent have been satisfied or waived.
Extension Consideration. In anticipation of Employee executing the Amendment, the Board granted Employee 50,000 common share options (“Options”), as consideration for the Contract Extension. The Options were granted at a Special Meeting of the Board of Directors held on May 9, 2016. The Options were priced at $40 and shall vest immediately upon execution of this Amendment. If Employee does not execute the Amendment, then the Options will be forfeited and revert back to the 2016 Equity Incentive Plan option pool.
