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.
Appears in 7 contracts
Samples: Convertible Security Agreement (Ads in Motion, Inc.), Convertible Security Agreement (Ads in Motion, Inc.), Convertible Security Agreement (Ads in Motion, Inc.)
