Issuance of Convertible Promissory Notes Sample Clauses

Issuance of Convertible Promissory Notes. Subject to all of the terms and conditions of this Agreement, at each Closing (as defined below), the Company agrees to issue and sell to each of the Investors, and each of the Investors severally agrees to purchase, a Note in the principal amount set forth opposite such Investor’s name on the Schedule of Investors. The securities into which the Notes are convertible are referred to herein as the “Note Conversion Shares.” The obligations of the Investors to purchase Notes are several and not joint. The aggregate principal amount of all Notes that may be issued and sold hereunder shall not exceed $4,000,000 (the “Total Note Principal Amount”).

Issuance of Convertible Promissory Notes. Subject to all of the terms and conditions of this Agreement, at each Closing (as defined below), the Company agrees to issue and sell to each of the Investors, and each of the Investors severally agrees to purchase, a subordinated convertible promissory note, in substantially the form of Exhibit A hereto (each, a “Note” and, collectively, the “Notes”), in the principal amount equal to the amounts set forth opposite such Investor’s name on the Schedule of Investors. The securities into which the Notes are convertible are referred to as the “Conversion Stock.” The obligations of the Investors to purchase Notes are several and not joint. The aggregate principal amount for all Notes issued hereunder shall not exceed $25,000,000 (the “Total Note Principal Amount”).

Issuance of Convertible Promissory Notes. (a) Investor agrees to lend to Company from time to time prior to September 30, 2000, as requested by Company in accordance with paragraph (c), advances in an aggregate amount not to exceed $20,000,000. (b) Each advance by Investor to Company shall be considered a promissory note on the terms and conditions specified in the form of convertible promissory note attached hereto as EXHIBIT A (individually a "Note", and collectively, the "Notes"). (c) To obtain an advance, Company must provide Investor with an unsigned Note specifying the dollar amount of the advance requested at least one business day prior to the date stipulated on the Note. The issuance of the corresponding Note will occur against receipt by Company of the corresponding advance and shall take place at the offices of Company on the date stipulated on the Note or such other time and place as both Company and Investor may determine; PROVIDED, HOWEVER, that no closing shall occur on a date later than September 30, 2000. (d) Company acknowledges receipt of $2,000,000 advance by Investor on August 10, 2000 in anticipation of this Agreement and agrees to issue Investor a Note in the principal amount of $2,000,000.

Issuance of Convertible Promissory Notes. Upon Closing, Parent shall issue $200,000 in convertible promissory notes to debt holders of Parent designated by Parent, a form of which is attached hereto as Exhibit B. The aggregate principal amount of such notes shall be reduced by the amount of the liabilities set forth in Section 4.06 of the Parent Disclosure Schedule that remain undischarged at Closing and any miscellaneous Ghana filing fees that are owed by Discovery Gold Ghana as of date.

Issuance of Convertible Promissory Notes. Upon the execution of this --------------------------------------------- Agreement, the Company agrees to issue, upon the receipt of each Advance, a convertible promissory note (the "Note(s)") made payable to the order of GET USA in the maximum principal amount of US$750,000 and in the form attached hereto as Exhibit A. The Note(s) shall bear simple interest at the rate of ten percent (10%) per annum, and all principal and accrued interest shall be due and payable on the six-month anniversary of the date of this Agreement (the "Maturity Date"). The Company shall have the right to prepay the Note(s) in whole or in part at any time, without premium or penalty, upon providing ten (10) days' prior written notice to GET USA.