Interest and Prepayment. This Debenture was issued for an original issue discount. No regularly scheduled interest payments shall be made on this Debenture. Except as otherwise set forth in this Debenture, the Company may not prepay any portion of the Principal Amount of this Debenture without the prior written consent of the Holder.
Interest and Prepayment. No regularly scheduled interest payments shall be made on this Debenture. Except as otherwise set forth in this Debenture, the Company may not prepay any portion of the principal amount of this Debenture without the prior written consent of the Holder.
Interest and Prepayment. The Debenture shall bear interest at a rate of 12% per annum on the unpaid and unconverted Principal Amount of this Debenture. Interest shall be payable quarterly in arrears in cash on February 8, May 8, August 8 and November 8 of each year commencing on May 8, 2011. The Company may prepay the outstanding Principal Amount and other amounts prior to the Maturity Date subject to Section 6(a) herein.
Interest and Prepayment. This Note was issued for an original issue discount. No regularly scheduled interest payments shall be made on this Note. Except as otherwise set forth in this Note, the Company may not prepay any portion of the Principal Amount of this Note without the prior written consent of the Holder. No prepayment or conversion shall affect the amount of Original Issue Discount received by the Holder.
Interest and Prepayment. In accordance with the Loan Agreement and compliance by Borrower with the terms, conditions and procedures thereof, interest will accrue on the unpaid balance of the Principal Sum until paid at a variable rate of interest per annum, which shall be equal to the LIBO Rate (as defined in the Loan Agreement) plus one hundred seventy-five (175) basis points (100 basis points being equal to one percent (1%) per annum) (the “Applicable Interest Rate”). Upon the occurrence of an Event of Default, whether by acceleration or otherwise, interest will accrue on the unpaid balance of the Principal Sum and unpaid interest, if any, until paid at a variable rate of interest per annum, which shall change in the manner set forth below, equal to four percent (4%) over the Applicable Interest Rate (as also defined in the Loan Agreement, the “Default Rate”). All interest will be calculated on the basis of a 360 day year for the actual number of days the Principal Sum or any part thereof remains unpaid. There shall be no premium for prepayment. Interest on the Principal Sum shall be payable monthly in arrears commencing on the fifteenth (15th) day of October, 2012 and on the fifteenth (15th) day of each succeeding calendar month. Notwithstanding the foregoing, if the due date of any payment under this Note shall be a day that is not a Banking Day (as defined in the Loan Agreement), the due date will be extended to the next succeeding Banking Day. The entire Principal Sum shall be due and payable on September 23, 2013, or upon demand, whichever will first occur, and accrued interest thereon shall be due and payable in accordance with the provisions hereof and the Loan Agreement and thereafter at maturity, whether by demand, acceleration or otherwise together with any and all other sums due hereunder. All sums due hereunder shall be paid to Lender at its office address as set forth herein and shall be paid in lawful money of the United States of America and in immediately available funds, and shall be applied by Lender: (a) first to the payment of any sums other than principal or interest, (b) then to the payment of interest, and (c) then to the payment of principal. All sums due hereunder shall be without relief from valuation and appraisement laws.
Interest and Prepayment. The Company acknowledges and agrees that this Note was issued at an original issue discount such that the Principal Amount equals such Holder’s Subscription Amount multiplied by 1.15. No regularly scheduled interest payments shall be made on this Note. Except as otherwise set forth in this Note, the Company may not prepay any portion of the Principal Amount of this Note without the prior written consent of the Holder.
Interest and Prepayment. This Debenture was issued for an original issue discount. No regularly scheduled interest payments shall be made on this Debenture. Except as otherwise set forth in this Debenture, the Company may not prepay any portion of the principal amount of this Debenture without the prior written consent of the Holder. All amounts owed hereunder will be paid to the Person in whose name this Debenture is registered on the records of the Company regarding registration and transfers of this Debenture (the “Debenture Register”).
Interest and Prepayment. This is a non-interest bearing Debenture and no interest payments shall be due on this Debenture. Upon 5 Trading Days written notice, the Company may prepay this Debenture at any time without the consent of the Holder. Notwithstanding anything to the contrary, the Holder may elect to convert this Debenture (prior to the actual payment in cash under this Section 2 by the delivery of a Notice of Conversion pursuant to Section 4.
Interest and Prepayment. The principal amount of the Debenture shall bear interest at 10% per annum. No regularly scheduled interest payments shall be made on this Debenture. The accrued interest shall be payable in full on the Maturity Date. The Company may prepay any portion of the principal amount of this Debenture with four business day prior written notice to the Holder without penalty.
Interest and Prepayment. (i) If the Restructuring Agreement is executed by one hundred percent (100%) of the Creditors before the APE Filing Date, (x) the New Debt Obligations will accrue interest from September 1, 2005 at a rate equivalent to LIBOR plus one percent (1%) per annum payable semi-annually (subject to a maximum of five percent (5%) per annum), and (y) an amount equal to five percent (5%) of any dividends of CIESA declared in respect of any fiscal year before any payment of such dividends to Shareholders will be applied in full to prepay the principal of the New Debt Obligations (pro rata among all holders of New Debt Obligations) (the “Early Cash Prepayment”).
(ii) In the event the Restructuring Agreement is not executed by Creditors representing 100% of the Existing Debt Obligations prior to the APE Filing Date, the New Debt Obligations will accrue interest from the issuance date at a rate of one percent (1%) per annum payable annually, and there shall be no requirement that any earnings of CIESA be applied to prepay the New Debt Obligations.
(iii) Notwithstanding the provisions contained in (i) and (ii) above, in the event that CIESA does not have sufficient cash available to make cash interest payments during the first three (3) years following the date of the execution and delivery of the New Debt Agreements, accrued interest under the New Debt Obligations may be paid at the Company’s option by the issuance of an in-kind instrument representing additional debt under identical terms and conditions (including the same maturity date, but accruing interest only from the issuance date) as the outstanding New Debt Obligations.
