Common use of Monthly Amount Common Stock Payment Guidelines Clause in Contracts

Monthly Amount Common Stock Payment Guidelines. Subject to Sections 2.1(a) and 2.2 hereof, if the Borrower has elected to pay all or a portion of the Monthly Amount due on such Repayment Date in shares of Common Stock and the closing price of the Common Stock as reported by Bloomberg, L.P. on the Principal Market (as defined in Section 4.7 hereof) for any of the ten (10) trading days preceding a Repayment Date was less than 120% of the Fixed Conversion Price, then the Borrower shall pay in cash instead. Any part of the Monthly Amount due on such Repayment Date that the Borrower did not elect to pay in shares of Common Stock shall be paid by the Borrower in cash on such Repayment Date. Any part of the Monthly Amount due on such Repayment Date which the Borrower elected to pay in shares of Common Stock but which must be paid in cash (as a result of the closing price of the Common Stock on one or more of the five (5) trading days preceding the applicable Repayment Date was less than 120% of the Fixed Conversion Price) shall be paid within three (3) business days of the applicable Repayment Date.

Appears in 3 contracts

Samples: Secured Convertible Term Note (Paincare Holdings Inc), Secured Convertible Term Note (Paincare Holdings Inc), Secured Convertible Term Note (Paincare Holdings Inc)

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Monthly Amount Common Stock Payment Guidelines. Subject to Sections 2.1(a) and 2.2 hereof, if the Borrower has elected to pay all or a portion of the Monthly Amount due on such Repayment Date in shares of Common Stock and the closing price of the Common Stock as reported by Bloomberg, L.P. on the Principal Market (as defined in Section 4.7 hereof) for any of the ten five (105) trading days preceding a the applicable Repayment Date was less than 120115% of the Fixed Conversion Price, then the Borrower shall pay in cash instead. Any part of the Monthly Amount due on such Repayment Date that the Borrower did not elect to pay in shares of Common Stock shall be paid by the Borrower in cash on such Repayment Date. Any part of the Monthly Amount due on such Repayment Date which the Borrower elected to pay in shares of Common Stock but which must be paid in cash (as a result of the closing price of the Common Stock on one or more of the five (5) trading days preceding the applicable Repayment Date was less than 120115% of the Fixed Conversion Price) shall be paid within three ten (310) business days of the applicable Repayment Date.;

Appears in 3 contracts

Samples: Secured Convertible Term Note (Dyntek Inc), Secured Convertible Term Note (Dyntek Inc), Secured Convertible Term Note (Dyntek Inc)

Monthly Amount Common Stock Payment Guidelines. Subject to Sections 2.1(a) and 2.2 hereof, if the Borrower has elected to pay all or a portion of the Monthly Amount due on such Repayment Date in shares of Common Stock and the closing price of the Common Stock as reported by Bloomberg, L.P. on the Principal Market (as defined in Section 4.7 hereof) for any of the ten (10) trading days preceding a Repayment Date was less than 120110% of the Fixed Conversion Price, then the Borrower shall pay in cash instead. Any part of the Monthly Amount due on such Repayment Date that the Borrower did not elect to pay in shares of Common Stock shall be paid by the Borrower in cash on such Repayment Date. Any part of the Monthly Amount due on such Repayment Date which the Borrower elected to pay in shares of Common Stock but which must be paid in cash (as a result of the closing price of the Common Stock on one or more of the five (5) trading days preceding the applicable Repayment Date was less than 120110% of the Fixed Conversion Price) shall be paid within three (3) business days of following the applicable Repayment Date.

Appears in 3 contracts

Samples: Convertible Term Note (Ventures National Inc), Convertible Term Note (Ventures National Inc), Convertible Note (Ventures National Inc)

Monthly Amount Common Stock Payment Guidelines. Subject to Sections 2.1(a) 2.1 and 2.2 hereof, if the Borrower has elected to pay all or a portion of the Monthly Amount due on such Repayment Date in shares of Common Stock and the closing price of the Common Stock as reported by Bloomberg, L.P. on the Principal Market (as defined in Section 4.7 hereof) for any of the ten (10) trading days preceding a Repayment Date was less than 120115% of the Fixed Conversion Price, then the Borrower shall pay in cash instead. Any part of the Monthly Amount due on such Repayment Date that the Borrower did not elect to pay in shares of Common Stock shall be paid by the Borrower in cash on such Repayment Date. Any part of the Monthly Amount due on such Repayment Date which the Borrower elected to pay in shares of Common Stock but which must be paid in cash (as a result of because the closing price of the Common Stock on one or more of the five ten (510) trading days preceding the applicable Repayment Date was less than 120115% of the Fixed Conversion Price) shall be paid within three (3) business days of the applicable Repayment Date.

Appears in 2 contracts

Samples: Convertible Term Note (Inyx Inc), Convertible Term Note (Inyx Inc)

Monthly Amount Common Stock Payment Guidelines. Subject to Sections 2.1(a) 2.1 and 2.2 hereof, if the Borrower has elected to pay all or a portion of the Monthly Amount due on such Repayment Date in shares of Common Stock and the closing price of the Common Stock as reported by Bloomberg, L.P. on the Principal Market (as defined in Section 4.7 hereof) for any of the ten seven (107) trading days preceding a Repayment Date was less than 120110% of the Fixed Conversion Price, then the Borrower shall pay the Monthly Amount in cash instead. Any part of the Monthly Amount due on such Repayment Date that the Borrower did not elect to pay in shares of Common Stock shall be paid by the Borrower in cash on such Repayment Date. Any part of the Monthly Amount due on such Repayment Date which the Borrower elected to pay in shares of Common Stock but which must be paid in cash (as a result of because the closing price of the Common Stock on one or more of for the five seven (57) trading days preceding the applicable Repayment Date was less than 120110% of the Fixed Conversion Price) shall be paid within three (3) business days of the applicable Repayment Date.

Appears in 2 contracts

Samples: Convertible Term Note (Numerex Corp /Pa/), Convertible Term Note (Numerex Corp /Pa/)

Monthly Amount Common Stock Payment Guidelines. Subject to Sections 2.1(a) and 2.2 hereof, if the Borrower has elected to pay all or a portion of the Monthly Amount due on such Repayment Date in shares of Common Stock and the closing price of the Common Stock as reported by Bloomberg, L.P. on the Principal Market (as defined in Section 4.7 hereof) for any of the ten (10) trading days preceding a Repayment Date was less than 120115% of the Fixed Conversion Price, then the Borrower shall pay in cash instead. Any part of the Monthly Amount due on such Repayment Date that the Borrower did not elect to pay in shares of Common Stock shall be paid by the Borrower in cash on such Repayment Date. Any part of the Monthly Amount due on such Repayment Date which the Borrower elected to pay in shares of Common Stock but which must be paid in cash (as a result of the closing price of the Common Stock on one or more of the five (5) trading days preceding the applicable Repayment Date was less than 120115% of the Fixed Conversion Price) shall be paid within three (3) business days of the applicable Repayment Date.

Appears in 2 contracts

Samples: Secured Convertible Term Note (Vicom Inc), Secured Convertible Term Note (Bam Entertainment Inc)

Monthly Amount Common Stock Payment Guidelines. Subject to Sections 2.1(a) 2.1 and 2.2 2.4 hereof, if the Borrower has elected to pay all or a portion of the Monthly Amount due on such Repayment Date in shares of Common Stock and the closing price of the Common Stock as reported by Bloomberg, L.P. on the Principal Market (as defined in Section 4.7 hereof) for any of the ten (10) trading days preceding a Repayment Date was less than 120107% of the Fixed Conversion Price, then the Borrower shall pay in cash instead. Any part of the Monthly Amount due on such Repayment Date that the Borrower did not elect to pay in shares of Common Stock shall be paid by the Borrower in cash on such Repayment Date. Any part of the Monthly Amount due on such Repayment Date which the Borrower elected to pay in shares of Common Stock but which must be paid in cash (as a result of because the closing price of the Common Stock on one or more of the five ten (510) trading days preceding the applicable Repayment Date was less than 120107% of the Fixed Conversion Price) shall be paid within three (3) business days of the applicable Repayment Date.

Appears in 2 contracts

Samples: Convertible Term Note (Axesstel Inc), Convertible Term Note (Axesstel Inc)

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Monthly Amount Common Stock Payment Guidelines. Subject to Sections 2.1(a) and 2.2 hereof, if the Borrower has elected to pay all or a portion of the Monthly Amount due on such Repayment Date in shares of Common Stock and the closing price of the Common Stock as reported by Bloomberg, L.P. on the Principal Market (as defined in Section 4.7 hereof) for any of the ten (10) trading days day preceding a Repayment Date was is less than 120106% of the Fixed Conversion Price, then the Borrower shall pay the Monthly Amount in cash instead. Any part of the Monthly Amount due on such a Repayment Date that the Borrower did not elect to pay in shares of Common Stock shall be paid by the Borrower in cash on such Repayment Date. Any part of the Monthly Amount due on such Repayment Date which the Borrower elected to pay in shares of Common Stock but which must be paid in cash (as a result of the closing price of the Common Stock on one or more of the five (5) trading days preceding the applicable Repayment Date was less than 120% of the Fixed Conversion Price) shall be paid within three (3) business days of the applicable Repayment Date.

Appears in 1 contract

Samples: Secured Convertible Term Note (Innovative Companies Inc)

Monthly Amount Common Stock Payment Guidelines. Subject to Sections 2.1(a) 2.1 and 2.2 hereof, if the Borrower has elected to pay all or a portion of the Monthly Amount due on such Repayment Date in shares of Common Stock and the closing price of the Common Stock as reported by Bloomberg, L.P. on the Principal Market (as defined in Section 4.7 hereof) Exchange for any of the ten (10) trading days preceding a Repayment Date was less than 120115% of the Fixed Conversion Price, then the Borrower shall pay in cash instead. Any part of the Monthly Amount due on such Repayment Date that the Borrower did not elect to pay in shares of Common Stock shall be paid by the Borrower in cash on such Repayment Date. Any part of the Monthly Amount due on such Repayment Date which the Borrower elected to pay in shares of Common Stock but which must be paid in cash (as a result of because the closing price of the Common Stock on one or more of the five ten (510) trading days preceding the applicable Repayment Date was less than 120115% of the Fixed Conversion Price) shall be paid within three (3) business days of the applicable Repayment Date.

Appears in 1 contract

Samples: Convertible Term Note (Tidel Technologies Inc)

Monthly Amount Common Stock Payment Guidelines. Subject to Sections 2.1(a) and 2.2 hereof, if the Borrower has elected to pay all or a portion of the Monthly Amount due on such Repayment Date in shares of Common Stock and the closing price of the Common Stock as reported by Bloomberg, L.P. on the Principal Market (as defined in Section 4.7 hereof) for any of the ten (10) trading days preceding a Repayment Date was less than 120115% of the Fixed Conversion Price, then the Borrower shall pay in cash instead. Any part of the Monthly Amount due on such Repayment Date that the Borrower did not elect to pay in shares of Common Stock shall be paid by the Borrower in cash on such Repayment Date. Any part of the Monthly Amount due on such Repayment Date which the Borrower elected to pay in shares of Common Stock but which must be paid in cash (as a result of the closing price of the Common Stock on one or more of the five (5) trading days preceding the applicable Repayment Date was less than 120115% of the A-2 Fixed Conversion Price) shall be paid within three (3) business days of the applicable Repayment Date.

Appears in 1 contract

Samples: Securities Purchase Agreement (Bam Entertainment Inc)

Monthly Amount Common Stock Payment Guidelines. Subject to Sections 2.1(a) 2.1 and 2.2 hereof, if the Borrower has elected to pay all or a portion of the Monthly Amount due on such Repayment Date in shares of Common Stock and the closing volume weighted average price of the Common Stock as reported by Bloomberg, L.P. on the Principal Market (as defined in Section 4.7 hereof) for any of over the ten (10) trading days preceding a Repayment Date was less than 120115% of the Fixed Conversion Price, then the Borrower shall pay in cash instead. Any part of the Monthly Amount due on such Repayment Date that the Borrower did not elect to pay in shares of Common Stock shall be paid by the Borrower in cash on such Repayment Date. Any part of the Monthly Amount due on such Repayment Date which the Borrower elected to pay in shares of Common Stock but which must be paid in cash (as a result of because the closing volume weighted average price of the Common Stock on one or more of over the five ten (510) trading days preceding the applicable Repayment Date was less than 120115% of the Fixed Conversion Price) shall be paid within three (3) business days of the applicable Repayment Date.

Appears in 1 contract

Samples: Convertible Term Note (Equifin Inc)

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