Common use of ISSUANCE OF COMMON STOCK IN LIEU OF CASH INTEREST Clause in Contracts

ISSUANCE OF COMMON STOCK IN LIEU OF CASH INTEREST. (a) If the Company exercises its option to make a payment of interest on this Note wholly or partly in shares of Common Stock (herein sometimes called the "Stock Payment Option"), the issuance of shares of Common Stock upon such exercise of the Stock Payment Option shall have been authorized by the Board of Directors of the Company.

ISSUANCE OF COMMON STOCK IN LIEU OF CASH INTEREST. (a) If the Company exercises ------------------------------------------------- Borrower desires to exercise its option to make a payment of interest on this Note wholly or partly in shares of Common Stock (herein hereinafter sometimes called the "Stock Payment Option"), the issuance of shares of Common Stock upon such exercise of the Stock Payment Option shall have been authorized by the Board of Directors of the Company.

ISSUANCE OF COMMON STOCK IN LIEU OF CASH INTEREST. (a) If the ------------------------------------------------- Company exercises its option to make a payment of interest on this Final Maturity Note wholly or partly in shares of Common Stock (herein sometimes called the "Stock Payment Option"), the issuance of shares of Common Stock upon such exercise of the Stock Payment Option shall have been authorized by the Board of Directors of the Company.