Common use of Optional Redemption in Cash Clause in Contracts

Optional Redemption in Cash. The Company may prepay this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty percent (130%) of the Principal Amount outstanding at such time together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any other Related Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 5 contracts

Samples: Accentia Biopharmaceuticals Inc, Biodelivery Sciences International Inc, Accentia Biopharmaceuticals Inc

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Optional Redemption in Cash. The Company Companies may prepay this Note ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty percent (130100%) of the Principal Amount outstanding at such time together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any other Related Agreement Note (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company Companies shall deliver to the Holder a written notice of redemption (the "Notice of Redemption") specifying the date for such Optional Redemption (the "Redemption Payment Date"), which date shall be seven (7) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s 's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails Companies fail to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 5 contracts

Samples: American Technologies Group Inc, American Technologies Group Inc, American Technologies Group Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty percent (130%) of the Principal Amount outstanding principal amount of this Note at such the time of prepayment, together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any other Related Agreement (the “Redemption Amount”"REDEMPTION AMOUNT") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "NOTICE OF REDEMPTION") is given to the Holder. The Notice of Redemption”) specifying Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), "REDEMPTION PAYMENT DATE") which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”"REDEMPTION PERIOD"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s such Xxxxxx's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 5 contracts

Samples: Note (Epixtar Corp), Note (Epixtar Corp), Note (Epixtar Corp)

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty twenty percent (130120%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but and unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Securities Purchase Agreement Agreement, or any other Related Agreement (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "Notice of Redemption") specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the "Redemption Payment Date”), ") which date shall be seven (7) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s such Xxxxxx's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 4 contracts

Samples: Synergy Brands Inc, Synergy Brands Inc, Synergy Brands Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note in full (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty fifteen percent (130115%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, Note or the Purchase Agreement or any other Related Agreement Document (as defined in the Purchase Agreement) (the “Redemption Amount”"REDEMPTION AMOUNT") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "NOTICE OF REDEMPTION") is given to the Holder, which Notice of Redemption”) specifying Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”"REDEMPTION PAYMENT DATE"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected pending election to be made by the Holder convert pursuant to Section 3.3 during 3.1 and the Redemption Period. The Redemption Amount shall be determined as if the Holder’s conversion elections such election to convert had been completed immediately prior to the date of the Notice of Redemption. The Redemption Payment Date shall not be earlier than the day after the date of the Notice of Redemption and not later than seven (7) days after the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on by the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void.

Appears in 3 contracts

Samples: Securities Purchase Agreement (Bam Entertainment Inc), Ventures National Inc, Bam Entertainment Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to to: (a)one hundred twenty percent (120%)(if the redemption occurs before the first anniversary hereof), or (b) one hundred thirty fifteen percent (130%115%)(if the redemption occurs after the first anniversary hereof, but before the second anniversary hereof) or (c) one hundred ten percent (110%)(if the redemption occurs after the second anniversary) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (as defined in the Security Agreement) (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the “Notice of Redemption”) specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), ) which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holdersuch Xxxxxx’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void.

Appears in 3 contracts

Samples: Paincare Holdings Inc, Paincare Holdings Inc, Paincare Holdings Inc

Optional Redemption in Cash. The Company may prepay Companies will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty fifteen percent (130115%) of the Principal Amount then outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company Companies shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defineddefined below) pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holdersuch Xxxxxx’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount (plus any additional interest and fees accruing on the Notes during the Redemption Period) must be irrevocably paid in good full in immediately available funds to the Holder. In the event the Company fails Companies fail to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will shall be null and void.

Appears in 3 contracts

Samples: Borrowing Note (Dynamic Health Products Inc), Dynamic Health Products Inc, Dynamic Health Products Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty twenty five percent (130125%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Agreement, or any other Related Agreement (the “Redemption Amount”"REDEMPTION AMOUNT") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "NOTICE OF REDEMPTION") is given to the Holder. The Notice of Redemption”) specifying Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), "REDEMPTION PAYMENT DATE") which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”"REDEMPTION PERIOD"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s such Hxxxxx's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 2 contracts

Samples: Island Pacific Inc, Island Pacific Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty percent (130%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company Borrower shall deliver to the Holder a written notice of redemption (the "Notice of Redemption") specifying the date for such Optional Redemption (the "Redemption Payment Date"), which date shall be seven (7) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defineddefined below) pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s such Xxxxxx's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount (plus any additional interest and fees accruing on the Notes during the Redemption Period) must be irrevocably paid in good full in immediately available funds to the Holder. In the event the Company fails Borrowers fail to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will shall be null and void.

Appears in 2 contracts

Samples: On the Go Healthcare Inc, On the Go Healthcare Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note in full (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty percent the Applicable Percentage (130%as hereafter defined) of the Principal Amount then-outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, Note or the Purchase Agreement or any other Related Agreement Document (as defined in the Purchase Agreement) (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the “Notice of Redemption”) specifying is given to the Holder, which Notice of Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected pending election to be made by the Holder convert pursuant to Section 3.3 during 3.1 and the Redemption Period. The Redemption Amount shall be determined as if the Holder’s conversion elections such election to convert had been completed immediately prior to the date of the Notice of Redemption. The Redemption Payment Date shall be not earlier than the day after the date of the Notice of Redemption and not later than seven (7) days after the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on by the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void. For purposes of this Section 2.5, the term “Applicable Percentage” means (1) 120% for the period commencing on the date hereof (the “Closing Date”) and ending on the first anniversary of the Closing Date, (2) 115% for the period commencing on the first day following the first anniversary of the Closing Date and ending on the second anniversary of the Closing Date and (3) 110% for the period commencing on the first day following the second anniversary of the Closing Date and ending on the day immediately preceding the Maturity Date.

Appears in 2 contracts

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

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty ten percent (130110%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Agreement, or any other Related Agreement (the “Redemption Amount”"REDEMPTION AMOUNT") outstanding on the Redemption Payment Date (as defined below). The Company Borrower shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”"NOTICE OF REDEMPTION") specifying the date for such Optional Redemption (the “Redemption Payment Date”), "REDEMPTION PAYMENT DATE") which date shall be seven (7) business days after the date of the Notice of Redemption (the "REDEMPTION PERIOD"); provided, however, that in no event may the Borrower pay the Holder any amount in respect of the exercise of any such Optional Redemption Period”)(of all or any portion of this Note) unless the Borrower shall concurrently (i) deposit additional cash collateral with Aether in an amount equal to the aggregate amount to be paid to the Holder and all other Purchasers in connection with such Optional Redemption (the "PREPAYMENT AMOUNT") and (ii) prepay the Shaar Notes collectively by an aggregate amount equal to the Prepayment Amount. A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the such Holder’s 's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then (i) such Redemption Notice will be null and voidvoid and (ii) the Borrower shall no longer have the right to exercise the Optional Redemption as set forth herein. Each of the terms "Aether", "Aether Note", "Shaar Note" has the meaning given to such term in the Subordination Agreement.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Bio Key International Inc), Securities Purchase Agreement (Bio Key International Inc)

Optional Redemption in Cash. The Company Companies may prepay this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to (a) one hundred thirty percent (130%) of the Principal Amount outstanding at such time if such payment occurs prior to the first anniversary of the Closing Date, (b) one hundred eighteen (118%) of the Principal Amount outstanding at such time if such payment occurs on or after the first anniversary of the Closing Date and prior to the second anniversary of the Closing Date and (c) one hundred seven percent (107%) of the Principal Amount outstanding at such time if such payment occurs on or after the second anniversary of the Closing Date, in each case, together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Security Agreement or any other Related Ancillary Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company Companies shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven ten (710) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 Article III during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails Companies fail to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void. If any Notes issued pursuant to the Security Agreement, in addition to this Note, are outstanding (collectively, the “Outstanding Notes”) and the Company pursuant to this Section elects to make an Optional Redemption, then the Company shall take the same action with respect to all Outstanding Notes and make such payments to all holders of Outstanding Notes on a pro rata basis based upon the Redemption Amount of each Outstanding Note.

Appears in 2 contracts

Samples: NewMarket Technology Inc, NewMarket Technology Inc

Optional Redemption in Cash. The Company may prepay this Note ------------------------------ (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty percent (130%) of the Applicable Principal Amount outstanding at such time (as defined below) together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any other Related Agreement (the “Redemption Amount”"REDEMPTION AMOUNT") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”"NOTICE OF REDEMPTION") specifying the date for such Optional Redemption (the “Redemption Payment Date”"REDEMPTION PAYMENT DATE"), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”"REDEMPTION PERIOD"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s 's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void. For purposes of this Section 2.3, the "APPLICABLE PRINCIPAL AMOUNT" shall mean (a) during the period commencing on the effective date hereof and ending on the date immediately preceding the first anniversary of the effective date hereof, 125% of the Principal Amount outstanding at the time of such prepayment, (b) during the period commencing on the first anniversary of the effective date hereof and ending on the date immediately preceding the second anniversary of the date hereof, 120% of the Principal Amount outstanding at the time of such prepayment and (c) during the period commencing on the second anniversary of the effective date hereof and ending on the Maturity Date, 115% of the Principal Amount outstanding at the time of such prepayment.

Appears in 2 contracts

Samples: New Century Energy Corp., New Century Energy Corp.

Optional Redemption in Cash. The Company may prepay this Note ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty percent (130%) of the Principal Amount outstanding at such time together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any other Related Agreement (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the "Notice of Redemption") specifying the date for such Optional Redemption (the "Redemption Payment Date"), which date shall be seven (7) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s 's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 2 contracts

Samples: On the Go Healthcare Inc, On the Go Healthcare Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of ---------------------------- prepaying this Note in whole or in part ("Optional Redemption") by paying to the Holder a sum of money (the "Redemption Amount") equal to one hundred thirty percent (130%) the principal amount of the Principal Amount outstanding at such time this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any other Related Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company Borrower shall deliver to the Holder a written notice of redemption (the "Notice of Redemption") specifying the date for such Optional Redemption (the "Redemption Payment Date"), which date shall be seven no more than ten (710) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion , and the principal amount of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s conversion elections had been completed immediately prior to the date of the Notice of Redemptionredeemed. On the Redemption Payment Date, the relevant Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the relevant Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 2 contracts

Samples: Secured Term (Elec Communications Corp), Secured Term Note (Elec Communications Corp)

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying all amounts outstanding under this Note in full ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty twenty percent (130120%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, Note or the Purchase Agreement or any other Related Agreement Document (as defined in the Purchase Agreement) (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "Notice of Redemption") specifying is given to the Holder, which Notice of Redemption shall specify the date for such Optional Redemption (the "Redemption Payment Date”), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected pending election to be made by the Holder convert pursuant to Section 3.3 during 3.1 and the Redemption Period. The Redemption Amount shall be determined as if the Holder’s conversion elections such election to convert had been completed immediately prior to the date of the Notice of Redemption. The Redemption Payment Date shall be not earlier than the day after the date of the Notice of Redemption and not later than seven (7) days after the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on by the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void.

Appears in 2 contracts

Samples: Inyx Inc, Inyx Inc

Optional Redemption in Cash. The Company Companies may prepay this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty percent (130100%) of the Principal Amount outstanding at such time if such payment occurs prior to the first anniversary of the Original Closing Date, together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Security Agreement or any other Related Ancillary Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company Companies shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven ten (710) business days Business Days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 Article III during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails Companies fail to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 2 contracts

Samples: Other Companies (ProLink Holdings Corp.), Other Companies (ProLink Holdings Corp.)

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty fifteen percent (130115%) of the Principal Amount then outstanding at such time principal balance of this Note, together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Agreement, or any other Related Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the “Notice of Redemption”) specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), ) which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holdersuch Xxxxxx’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 2 contracts

Samples: Dynamic Health Products Inc, Dynamic Health Products Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty twenty percent (130120%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but and unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Securities Purchase Agreement Agreement, or any other Related Agreement (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "Notice of Redemption") specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the "Redemption Payment Date”), ") which date shall be seven (7) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the such Holder’s 's conversion elections had been xxxx completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 2 contracts

Samples: Synergy Brands Inc, Synergy Brands Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder Holder, within a period up to and including twelve (12) months from the date herein, a sum of money equal to one hundred thirty twenty-five percent (130125%) of the Principal Amount outstanding at such time remaining principal balance amount of this Note together with accrued but unpaid interest thereon thereon. Optional Redemption after twelve (12) months and up until twenty-four (24) months after the date herein, will be at a sum equal to one hundred and fifteen percent (115%) of the remaining principal balance amount of this Note together with accrued but unpaid interest. Option Redemption after twenty-four (24) months shall be effected by the Borrower paying to the Holder a sum equal to one hundred and two percent (110%) of the principal balance amount plus accrued but unpaid interest at Redemption and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Agreement, or any other Related Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the “Notice of Redemption”) specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), ) which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holdersuch Xxxxxx’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 2 contracts

Samples: Powercold Corp, Powercold Corp

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty and twenty percent (130120%) of the Principal Amount then outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Agreement, or any other Related Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the “Notice of Redemption”) specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), ) which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holdersuch Xxxxxx’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 2 contracts

Samples: Bos Better Online Solutions LTD, Bos Better Online Solutions LTD

Optional Redemption in Cash. The Company Companies may prepay this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty percent (130100%) of the Principal Amount outstanding at such time together with accrued but unpaid interest thereon Cash Interest Amounts and PIK Interest Amounts and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreements or any other Related Ancillary Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company Companies shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be within seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails Companies fail to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void. For purposes hereof, the term “Ancillary Agreement” means all documents, agreements, instruments, security agreements, mortgages and deeds of hypothecs executed by or on behalf of any Company to Holder, relating to this Note or to the transactions contemplated by this Note or otherwise relating to the relationship between or among any Company and Holder, as each of the same may be amended, supplemented, restated or otherwise modified from time to time.

Appears in 2 contracts

Samples: Secured Term Note (Thomas Equipment, Inc.), Secured Term Note (Thomas Equipment, Inc.)

Optional Redemption in Cash. The Company may prepay Companies will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty percent (130%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defineddefined below) pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holdersuch Xxxxxx’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount (plus any additional interest and fees accruing on the Notes during the Redemption Period) must be irrevocably paid in good full in immediately available funds to the Holder. In the event the Company fails Companies fail to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will shall be null and void.

Appears in 2 contracts

Samples: Accentia Biopharmaceuticals Inc, Accentia Biopharmaceuticals Inc

Optional Redemption in Cash. The Company may prepay this Note (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty twenty percent (130120%) of the Principal Amount outstanding at such time together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any other Related Agreement (the “Redemption Amount”"REDEMPTION AMOUNT") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”"NOTICE OF REDEMPTION") specifying the date for such Optional Redemption (the “Redemption Payment Date”"REDEMPTION PAYMENT DATE"), which date shall be seven ten (710) business days after the date of the Notice of Redemption (the “Redemption Period”"REDEMPTION PERIOD"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s 's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 2 contracts

Samples: Windswept Environmental Group Inc, Windswept Environmental Group Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty twenty five percent (130125%) of the Principal Amount outstanding at such time principal amount of this Note, together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Agreement, or any other Related Agreement (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company Borrower shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the "Redemption Payment Date"), which date shall be seven (7) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s such Hxxxxx's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: American Water Star Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty percent (130100%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any other Related Agreement Note (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the “Notice of Redemption”) specifying is given to the Holder, which day shall not be earlier than September 30, 2021. The Notice of Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), ) which date shall be seven fourteen (714) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the such Holder’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On Within 7 days from receipt of the Redemption Payment DateNotice of Redemption, the Redemption Amount must be paid in good funds Holder may elect to convert all or any portion of the Holder. In the event the Company fails then aggregate outstanding principal amount of this Note, together with interest and fees due hereon, pursuant to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.due notice per Section 3.1

Appears in 1 contract

Samples: Andina Gold Corp.

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note in whole or in part ("Optional Redemption") by paying to the Holder a sum of money (the "Redemption Amount") equal to (x) if redeemed following the date of this Note, one hundred thirty five percent (130105%) ), of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any other Related Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company Borrower shall deliver to the Holder a written notice of redemption (the "Notice of Redemption") specifying the date for such Optional Redemption (the "Redemption Payment Date"), which date shall be seven ten (710) business days after the date of the Notice of Redemption (the "Redemption Period"), and the principal amount of this Note to be redeemed. A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The relevant Redemption Amount shall be determined as if the such Holder’s 's conversion elections had been completed immediately prior to the date xxx xate of the Notice of Redemption. On the Redemption Payment Date, the relevant Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the relevant Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Elec Communications Corp

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to (i) in the event such prepayment occurs prior to the one year anniversary of the Closing Date, one hundred thirty twenty percent (130120%) of the Principal Amount principal amount of this Note then outstanding, (ii) in the event such prepayment occurs on or after the one year anniversary of the Closing Date and prior to the two year anniversary of the Closing Date, one hundred fifteen percent (115%) of the principal amount of this Note then outstanding at and (iii) in the event such time prepayment occurs after the two year anniversary of the Closing Date, one hundred ten percent (110%) of the principal amount of this Note then outstanding, in each case, together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Agreement, or any other Related Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company Borrower shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending conversion pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holdersuch Xxxxxx’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Icoria, Inc.

Optional Redemption in Cash. The Company may prepay Borrowers will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty and five percent (130105%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (as defined in the Security Agreement) (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the “Notice of Redemption”) specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), ) which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”)) . A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defineddefined below) pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holdersuch Hxxxxx’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount (plus any additional interest and fees accruing on the Notes during the Redemption Period) must be irrevocably paid in good full in immediately available funds to the Holder. In the event the Company fails Borrowers fail to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Maxim Mortgage Corp/

Optional Redemption in Cash. The Company may prepay Companies will have the option of prepaying this Note ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty twenty percent (130120%) of the Principal Amount outstanding at such time together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Security Agreement or any other Related Ancillary Agreement (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the "Notice of Redemption") specifying the date for such Optional Redemption (the "Redemption Payment Date"), which date shall be seven ten (710) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defineddefined below) pursuant to Section 3.1 or for conversions elected to be made by the Holder pursuant to Section 3.3 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s 's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount (plus any additional interest and fees accruing on the Notes during th Redemption Period) must be irrevocably paid in good full in immediately available funds to the Holder. In the event the Company fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will shall be null and void.

Appears in 1 contract

Samples: General Environmental Management, Inc

Optional Redemption in Cash. The Company may prepay Borrowers will have the option of prepaying this Note ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty and five percent (130105%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement other Term Note, the Security Agreement, or any other Related Ancillary Agreement (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "Notice of Redemption") specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the "Redemption Payment Date”), ") which date shall be seven (7) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defineddefined below) pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s such Xxxxxx's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount (plus any additional interest and fees accruing on the Notes during the Redemption Period) must be irrevocably paid in good full in immediately available funds to the Holder. In the event the Company fails Borrowers fail to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Thomas Equipment, Inc.

Optional Redemption in Cash. The Company Companies may prepay this Note (“Optional "OPTIONAL Redemption") by paying to the Holder a sum of money equal to one hundred thirty twenty percent (130120%) of the Principal Amount outstanding at such time together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Security Agreement or any other Related Ancillary Agreement (the “Redemption Amount”"REDEMPTION AMOUNT") outstanding on the Redemption Payment Date (as defined below). The Company Companies shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”"NOTICE OF REDEMPTION") specifying the date for such Optional Redemption (the “Redemption Payment Date”"REDEMPTION PAYMENT DATE"), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”"REDEMPTION PERIOD"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s 's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails Companies fail to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: American Technologies Group Inc

Optional Redemption in Cash. The Company may prepay this Note (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty twenty percent (130120%) of the Principal Amount outstanding at such time together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any other Related Agreement (the “Redemption Amount”"REDEMPTION AMOUNT") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”"NOTICE OF REDEMPTION") specifying the date for such Optional Redemption (the “Redemption Payment Date”"REDEMPTION PAYMENT DATE"), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”"REDEMPTION PERIOD"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s 's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Riviera Tool Co

Optional Redemption in Cash. The Company may prepay Companies will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty percent (130100%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven no later than ten (710) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount (plus any additional interest and fees accruing on the Notes during the Redemption Period) must be irrevocably paid in good full in immediately available funds to the Holder. In the event the Company fails Companies fail to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will shall be null and void.

Appears in 1 contract

Samples: Micro Component Technology Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money the Prepayment Premium (as hereinafter defined) together with accrued but unpaid interest thereon to the Redemption Payment Date (as hereinafter defined) and any and all other unpaid amounts, if any, then due, accrued, payable or owing to the Holder under this Note, the Purchase Agreement or any Related Agreement (the “Redemption Amount”). The “Prepayment Premium” shall be equal to one hundred and thirty percent (130%) of the Principal Amount outstanding at the time of such time together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any other Related Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below)prepayment. The Company Borrower shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven ten (710) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note the Principal Amount for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert into Common Stock pursuant to Section 3.1 or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the such Holder’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds cash to the Holder. In the Xx xhe event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be deemed to be null and void.

Appears in 1 contract

Samples: Tm Bioscience Corp

Optional Redemption in Cash. The Company Companies may prepay this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty percent (130100%) of the Principal Amount outstanding at such time if such payment occurs prior to the first anniversary of the Original Closing Date, together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Security Agreement or any other Related Ancillary Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company Companies shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven ten (710) business days Business Days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 Article III during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails Companies fail to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.. Notwithstanding the foregoing, no prepayment of this Note shall affect the continuing obligations of the Companies with respect to any amounts of Contingent Payments owed by the Companies pursuant to Article V.

Appears in 1 contract

Samples: Other Companies (ProLink Holdings Corp.)

Optional Redemption in Cash. The Company may prepay Companies will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty fifteen percent (130115%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defineddefined below) pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holdersuch Xxxxxx’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount (plus any additional interest and fees accruing on the Notes during the Redemption Period) must be irrevocably paid in good full in immediately available funds to the Holder. In the event the Company fails Companies fail to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will shall be null and void.

Appears in 1 contract

Samples: Time America Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty twenty percent (130120%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Agreement, or any other Related Agreement (the “Redemption Amount”"REDEMPTION AMOUNT") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "NOTICE OF REDEMPTION") is given to the Holder. The Notice of Redemption”) specifying Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), "REDEMPTION PAYMENT DATE") which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”"REDEMPTION PERIOD"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s such Hxxxxx's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Mitek Systems Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty percent (130100%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Agreement, or any other Related Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the “Notice of Redemption”) specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), ) which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holdersuch Hxxxxx’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Trimedia Entertainment Group Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty and twenty percent (130120%) of the Principal Amount then outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Agreement, or any other Related Agreement (the “Redemption Amount”"REDEMPTION AMOUNT") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "NOTICE OF REDEMPTION") is given to the Holder. The Notice of Redemption”) specifying Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), "REDEMPTION PAYMENT DATE") which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”"REDEMPTION PERIOD"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the such Holder’s 's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Securities Purchase Agreement (Bos Better Online Solutions LTD)

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty twenty percent (130120%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (as defined in the “Redemption Amount”Security Agreement) (the "REDEMPTION AMOUNT") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "NOTICE OF REDEMPTION") is given to the Holder. The Notice of Redemption”) specifying Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), "REDEMPTION PAYMENT DATE") which date shall be seven ten (710) business days after the date of the Notice of Redemption (the “Redemption Period”"REDEMPTION PERIOD"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the such Holder’s 's conversion elections had been completed immediately prior to the tx xxx date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: United Energy Corp /Nv/

Optional Redemption in Cash. The Company may prepay this Note ------------------------------ ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty twenty percent (130120%) of the Principal Amount outstanding at such time together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any other Related Agreement (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the "Notice of Redemption") specifying the date for such Optional Redemption (the "Redemption Payment Date"), which date shall be seven ten (710) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s 's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Windswept Environmental Group Inc

Optional Redemption in Cash. The Company may prepay this Note (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty twenty five percent (130125%) of the Principal Amount outstanding at such time together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Security Agreement or any other Related Ancillary Agreement (the “Redemption Amount”"REDEMPTION AMOUNT") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”"NOTICE OF REDEMPTION") specifying the date for such Optional Redemption (the “Redemption Payment Date”"REDEMPTION PAYMENT DATE"), which date shall be seven ten (710) business days after the date of the Notice of Redemption (the “Redemption Period”"REDEMPTION PERIOD"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s 's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Naturade Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty twenty five percent (130125%) of the Principal Amount then outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Agreement, or any other Related Agreement (the “Redemption Amount”"REDEMPTION AMOUNT") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "NOTICE OF REDEMPTION") is given to the Holder. The Notice of Redemption”) specifying Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), "REDEMPTION PAYMENT DATE") which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”"REDEMPTION PERIOD"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the such Holder’s 's conversion elections had been completed immediately prior to the tx xxx date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Xstream Beverage Group Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note in full (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty and one percent (130101%) of the Principal Amount principal amount outstanding at such time of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, Note or the Purchase Agreement or any other Related Agreement (as defined in the “Redemption Amount”Purchase Agreement) (the "REDEMPTION AMOUNT") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "NOTICE OF REDEMPTION") is given to the Holder, which Notice of Redemption”) specifying Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”"REDEMPTION PAYMENT DATE"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected pending election to be made by the Holder convert pursuant to Section 3.3 during 3.1 and the Redemption Period. The Redemption Amount shall be determined as if the Holder’s conversion elections such election to convert had been completed immediately prior to the date of the Notice of Redemption. The Redemption Payment Date shall not be earlier than the day after the date of the Notice of Redemption and not later than seven (7) days after the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good immediately available funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on by the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Tidel Technologies Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty percent (130%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to in the Holder a Security Agreement) (the "Redemption Amount") on the day written notice of redemption (the "Notice of Redemption") specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the "Redemption Payment Date”), ") which date shall be seven (7) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defineddefined below) pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s such Xxxxxx's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount (plus any additional interest and fees accruing on the Notes during the Redemption Period) must be irrevocably paid in good full in immediately available funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Global Digital Solutions Inc

Optional Redemption in Cash. The Company Companies may prepay this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty percent (130100%) of the Principal Amount outstanding at such time together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any other Related Agreement Note (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company Companies shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails Companies fail to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Other Companies (American Technologies Group Inc)

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty two percent (130102%), if there exists an effective current Registration Statement (as defined in the Registration Rights Agreement) covering the shares of Common Stock to be issued in connection with such payment, otherwise one hundred four percent (104%), of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (as defined in the Security Agreement) (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "Notice of Redemption") specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the "Redemption Payment Date”), ") which date shall be seven ten (710) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the such Holder’s 's conversion elections had been completed immediately prior to prixx xx the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Dyntek Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty twenty percent (130120%) of the Principal Amount principal amount of this Note outstanding at on the date of such time Optional Redemption together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Agreement, or any other Related Agreement (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company Borrower shall deliver to the Holder a written notice of redemption (the "Notice of Redemption") specifying specifiying the date for such Optional Redemption (the "Redemption Payment Date"), which date shall be seven (7) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s such Xxxxxx's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Gwin Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty twenty percent (130120%) of the Principal Amount principal amount of the Loans outstanding at such time under this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (as defined in the “Redemption Amount”Security Agreement) outstanding (the "REDEMPTION AMOUNT") on the Redemption Payment Date (as defined below). The Company shall deliver to ) specified in the Holder a written notice of redemption (the "NOTICE OF REDEMPTION"). The Notice of Redemption”) specifying Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), "REDEMPTION PAYMENT DATE") which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption "REDEMPTION Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defineddefined below) or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1, or for any portion of this Note for which a Notice of Conversion is delivered during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s 's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount (plus any additional interest and fees accruing on the Notes during the Redemption Period) must be irrevocably paid in good full in immediately available funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Gvi Security Solutions Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty twenty percent (130120%) of the Principal Amount principal amount then outstanding at such time under this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Agreement, or any other Related Agreement (the “Redemption Amount”"REDEMPTION AMOUNT") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to ) specified in the Holder a written notice of redemption (the "NOTICE OF REDEMPTION"). The Notice of Redemption”) specifying Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), "REDEMPTION PAYMENT DATE") which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”"REDEMPTION PERIOD"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) defined below), or for conversions elected to be made by the Holder pursuant to Section 3.3 any portion of this Note for which a Notice of Conversion is delivered during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s 's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Gvi Security Solutions Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying all or a portion of amounts outstanding under this Note in full (“Optional Redemption”) by paying to the Holder a sum of money equal to the following: (a) if such prepayment is made prior to December , 2005, one hundred thirty five percent (130105%) of the Principal Amount outstanding at principal amount of this Note to be prepaid, and if such time prepayment made after December , 2005, one hundred three percent (103%) of such principal amount of this Note to be prepaid, together with (b) accrued but unpaid interest thereon and (c) any payment required under Section 1.2(Y) and 1.2(Z) (d) any and all other sums due, accrued or payable to the Holder arising under this Note, Note or the Purchase Agreement or any other Related Agreement Document (as defined in the Purchase Agreement) (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the “Notice of Redemption”) specifying is given to the Holder, which Notice of Redemption shall specify the date for such Optional Redemption and the principal amount of this Note to be prepaid (the “Redemption Payment Date”), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected pending election to be made by the Holder convert pursuant to Section 3.3 during 3.1 and the Redemption Period. The Redemption Amount shall be determined as if the Holder’s conversion elections such election to convert had been completed immediately prior to the date of the Notice of Redemption. The Redemption Payment Date shall be not earlier than the day after the date of the Notice of Redemption and not later than seven (7) days after the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on by the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Equifin Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note in whole or in part ("Optional Redemption") by paying to the Holder a sum of money (the "Redemption Amount") equal to (x) if redeemed during the first year following the date of this Note, one hundred thirty twenty percent (120%), (y) if redeemed during the second year following the date of this Note, one hundred twenty percent (125%) and (z) if redeemed during the third year following the date of this Note, one hundred twenty percent (130%) ), in each case, of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any other Related Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company Borrower shall deliver to the Holder a written notice of redemption (the "Notice of Redemption") specifying the date for such Optional Redemption (the "Redemption Payment Date"), which date shall be seven ten (710) business days after the date of the Notice of Redemption (the "Redemption Period"), and the principal amount of this Note to be redeemed. A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The relevant Redemption Amount shall be determined as if the such Holder’s 's conversion elections had been completed immediately prior to the xx xxe date of the Notice of Redemption. On the Redemption Payment Date, the relevant Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the relevant Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Elec Communications Corp

Optional Redemption in Cash. The Company may prepay Borrower will have the option of ------------------------------ prepaying this Note (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty percent (130%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Agreement, or any other Related Agreement (the “Redemption Amount”"REDEMPTION AMOUNT") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "NOTICE OF REDEMPTION") is given to the Holder. The Notice of Redemption”) specifying Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), "REDEMPTION PAYMENT DATE") which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”"REDEMPTION PERIOD"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s such Hxxxxx's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Sequiam Corp

Optional Redemption in Cash. The Company may prepay this Note ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty twenty percent (130120%) of the Principal Amount outstanding at such time together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any other Related Agreement (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the "Notice of Redemption") specifying the date for such Optional Redemption (the "Redemption Payment Date"), which date shall be seven (7) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 Article III during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s 's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Auxilio Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to (i) in the event such prepayment occurs prior to the one year anniversary of the Closing Date, one hundred thirty twenty percent (130120%) of the Principal Amount principal amount of this Note then outstanding, (ii) in the event such prepayment occurs on or after the one year anniversary of the Closing Date and prior to the two year anniversary of the Closing Date, one hundred fifteen percent (115%) of the principal amount of this Note then outstanding at and (iii) in the event such time prepayment occurs after the two year anniversary of the Closing Date, one hundred ten percent (110%) of the principal amount of this Note then outstanding, in each case, together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Agreement, or any other Related Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company Borrower shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending conversion pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holdersuch Hxxxxx’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Clinical Data Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note in full (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty percent (130100%) of the Principal Amount principal amount outstanding at such time of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, Note or the Purchase Agreement or any other Related Agreement (as defined in the “Redemption Amount”Purchase Agreement) (the "REDEMPTION AMOUNT") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "NOTICE OF REDEMPTION") is given to the Holder, which Notice of Redemption”) specifying Redemption shall specify the date for such Optional Redemption (the "REDEMPTION PAYMENT DATE"). The Redemption Payment Date”), which date Date shall not be seven (7) business days earlier than the day after the date of the Notice of Redemption and not later than seven (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined7) or for conversions elected to be made by the Holder pursuant to Section 3.3 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s conversion elections had been completed immediately prior to days after the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good immediately available funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on by the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Tidel Technologies Inc

Optional Redemption in Cash. The Company may prepay Companies will have the option of prepaying this Note (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty twenty five percent (130125%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (the “Redemption Amount”"REDEMPTION AMOUNT") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”"NOTICE OF REDEMPTION") specifying the date for such Optional Redemption (the “Redemption Payment Date”"REDEMPTION PAYMENT DATE"), which date shall be seven ten (710) business days after the date of the Notice of Redemption (the “Redemption Period”"REDEMPTION PERIOD"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defineddefined below) pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s such Xxxxxx's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount (plus any additional interest and fees accruing on the Notes during the Redemption Period) must be irrevocably paid in good full in immediately available funds to the Holder. In the event the Company fails Companies fail to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will shall be null and void.

Appears in 1 contract

Samples: Naturade Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty fifteen percent (130115%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (as defined in the Security Agreement) (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the “Notice of Redemption”) specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), ) which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defineddefined below) pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holdersuch Hxxxxx’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount (plus any additional interest and fees accruing on the Notes during the Redemption Period) must be irrevocably paid in good full in immediately available funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Conversion Services International Inc

Optional Redemption in Cash. The Company may prepay this Note (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty percent (130%) of the Principal Amount outstanding at such time together with accrued but unpaid interest thereon through the Redemption Payment Date as defined below, an amount as set forth on Exhibit A, attached hereto and made a part hereof, (the "PREPAYMENT Penalty"), and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any other Related Agreement (the “Redemption Amount”"REDEMPTION AMOUNT") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”"NOTICE OF REDEMPTION") specifying the date for such Optional Redemption (the “Redemption Payment Date”"REDEMPTION PAYMENT DATE"), which date shall be seven five (75) business days after the date of the Notice of Redemption (the "REDEMPTION PERIOD"). At any time during the Redemption Period”), the Holder may elect to convert the Redemption Amount, or any portion thereof, by delivering a Notice of Conversion to the Company in accordance with the provisions of Article III. A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 Article III during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s 's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Incentra Solutions, Inc.

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note in full (but not in part) in cash, ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty fifteen percent (130115%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (as defined in the Security Agreement) (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "Notice of Redemption") specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the "Redemption Payment Date”), ") which date shall be seven (7) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the such Holder’s 's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Veridium Corp

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Optional Redemption in Cash. The Company may prepay this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty fifteen percent (130115%) of the Principal Amount outstanding at such time together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Security Agreement or any other Related Ancillary Agreement (other than the Revolving Note and any Minimum Borrowing Note) (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Miscor Group, Ltd.

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty twenty-five percent (130125%) of the Principal Amount then outstanding at such time principal balance of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Agreement, or any other Related Agreement (the “Redemption Amount”"REDEMPTION AMOUNT") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "NOTICE OF REDEMPTION") is given to the Holder. The Notice of Redemption”) specifying Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), "REDEMPTION PAYMENT DATE") which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”"REDEMPTION PERIOD"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the such Holder’s 's conversion elections had been completed immediately prior to the tx xxx date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Locateplus Holdings Corp

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to to: (a) one hundred thirty fifteen percent (130115%) (if the redemption occurs before the first anniversary hereof), or (b) one hundred five percent (105%)(if the redemption occurs after the first anniversary hereof, but before the second anniversary hereof) or (c) one hundred three percent (103%)(if the redemption occurs after the second anniversary hereof) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (as defined in the “Redemption Amount”Security Agreement) (the "REDEMPTION AMOUNT") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "NOTICE OF REDEMPTION") is given to the Holder. The Notice of Redemption”) specifying Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), "REDEMPTION PAYMENT DATE") which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”"REDEMPTION PERIOD"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending conversion pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the such Holder’s 's conversion elections had been completed immediately prior to the date xxx xate of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Global Payment Technologies Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty percent (130%) of the Principal Amount then outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Agreement, or any other Related Agreement (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "Notice of Redemption") specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the "Redemption Payment Date”), ") which date shall be seven (7) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the such Holder’s 's conversion elections had been completed immediately prior to prixx xx the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Pacific Biometrics Inc

Optional Redemption in Cash. The Company Companies may prepay this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty fifteen percent (130115%) of the Principal Amount outstanding at such time together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Security Agreement or any other Related Ancillary Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company Companies shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven ten (710) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Parent has provided a Forced Conversion Notice in accordance with Section 2.1 or the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails Companies fail to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Silicon Mountain Holdings, Inc.

Optional Redemption in Cash. The Commencing on the first anniversary of this Note, and at all times thereafter, the Company may prepay will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty percent (130100%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any other Related Agreement Note (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the “Notice of Redemption”) specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), ) which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 during the Redemption Period. The Redemption Amount shall be determined as if the Holdersuch Xxxxxx’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Armada Water Assets Inc

Optional Redemption in Cash. The Company may prepay this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty twenty-four percent (130124%) of the aggregate amount of (a) the Principal Amount outstanding and (b) the principal amount outstanding pursuant to that certain Secured Term Note dated as of the date hereof, made by the Company in favor of the Holder, in the original principal amount of $10,000,000, at such time together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Term Note, the Purchase Agreement or any other Related Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 Article III during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Securities Purchase Agreement (Modtech Holdings Inc)

Optional Redemption in Cash. The Company may prepay this Note ------------------------------ (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty percent (130%) of the -------------------- Applicable Principal Amount outstanding at such time (as defined below) together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any other Related Agreement (the “Redemption Amount”"REDEMPTION AMOUNT") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”"NOTICE OF REDEMPTION") specifying the date for such Optional Redemption (the “Redemption Payment Date”"REDEMPTION PAYMENT DATE"), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”"REDEMPTION PERIOD"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s 's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void. For purposes of this Section 2.3, the "APPLICABLE PRINCIPAL AMOUNT" shall mean (a) during the period commencing on the date hereof and ending on the date immediately preceding the first anniversary of the date hereof, 125% of the Principal Amount outstanding at the time of such prepayment, (b) during the period commencing on the first anniversary of the date hereof and ending on the date immediately preceding the second anniversary of the date hereof, 120% of the Principal Amount outstanding at the time of such prepayment and (c) during the period commencing on the second anniversary of the date hereof and ending on the Maturity Date, 115% of the Principal Amount outstanding at the time of such prepayment.

Appears in 1 contract

Samples: New Century Energy Corp.

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note in full (but not in part) in cash (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty twenty percent (130120%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (as defined in the Security Agreement) (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the “Notice of Redemption”) specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), ) which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holdersuch Xxxxxx’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Innovative Companies Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty twenty-five percent (130125%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Agreement, or any other Related Agreement (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "Notice of Redemption") specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the "Redemption Payment Date”), ") which date shall be seven (7) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s such Xxxxxx's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Magic Lantern Group Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty twenty five percent (130125%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the “Notice of Redemption”) specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), ) which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holdersuch Hxxxxx’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Adstar Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note in full (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty fifteen percent (130115%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (as defined in the “Redemption Amount”Security Agreement) (the "REDEMPTION AMOUNT") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "NOTICE OF REDEMPTION") is given to the Holder, which Notice of Redemption”) specifying Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”"REDEMPTION PAYMENT DATE"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected pending election to be made by the Holder convert pursuant to Section 3.3 during 3.1 and the Redemption Period. The Redemption Amount shall be determined as if the Holder’s conversion elections such election to convert had been completed immediately prior to the date of the Notice of Redemption. The Redemption Payment Date shall not be earlier than the day after the date of the Notice of Redemption and not later than seven (7) days after the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on by the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Ventures National Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty percent (130100%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any other Related Agreement Note (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the “Notice of Redemption”) specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), ) which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the such Holder’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Cryomass Technologies, Inc.

Optional Redemption in Cash. The Company may prepay Companies will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty fifteen percent (130115%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Security Agreement or any other Related Ancillary Agreement (other than the Revolving Note and the Term Note) (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defineddefined below) pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holdersuch Hxxxxx’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount (plus any additional interest and fees accruing on the Notes during the Redemption Period) must be irrevocably paid in good full in immediately available funds to the Holder. In the event the Company fails Companies fail to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will shall be null and void.

Appears in 1 contract

Samples: Miscor Group, Ltd.

Optional Redemption in Cash. The Company may prepay this Note ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty ten percent (130110%) of the Principal Amount outstanding at such time together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any other Related Agreement (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the "Notice of Redemption") specifying the date for such Optional Redemption (the "Redemption Payment Date"), which date shall be seven fifteen (715) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 Article III during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s 's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.. HOLDER'S CONVERSION RIGHTS

Appears in 1 contract

Samples: Cyber Digital Inc

Optional Redemption in Cash. The Company may prepay this Note (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty percent (130100%) of the Principal Amount outstanding at such time together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any other Related Agreement (the “Redemption Amount”"REDEMPTION AMOUNT") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”"NOTICE OF REDEMPTION") specifying the date for such Optional Redemption (the “Redemption Payment Date”"REDEMPTION PAYMENT DATE"), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”"REDEMPTION PERIOD"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 Article III during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s 's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Able Energy Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note partially or in full (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty percent (130%) any percentage of the Principal Amount outstanding at such time principal amount of this Note in the Borrower’s sole discretion, together with accrued but unpaid interest thereon thereon, and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any other Related Agreement Note with respect to such percentage principal (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the “Notice of Redemption”) specifying is given to the Holder, which day shall not be earlier than October 31, 2021. The Notice of Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), ) which date shall be seven fourteen (714) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the such Holder’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On Within 7 days from receipt of the Redemption Payment DateNotice of Redemption, the Redemption Amount must be paid in good funds Holder may elect to convert all or any portion of the Holder. In the event the Company fails then aggregate outstanding principal amount of this Note, together with interest and fees due hereon, pursuant to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.due notice per Section 3.1

Appears in 1 contract

Samples: Andina Gold Corp.

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty percent (130120%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Agreement, or any other Related Agreement (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "Notice of Redemption") specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the "Redemption Payment Date”), ") which date shall be seven (7) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the such Holder’s 's conversion elections had been completed immediately prior to the date xxx xxte of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Greenman Technologies Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty percent (130%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (as defined in the Security Agreement) (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company Borrower shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defineddefined below) pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holdersuch Xxxxxx’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount (plus any additional interest and fees accruing on the Notes during the Redemption Period) must be irrevocably paid in good full in immediately available funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Comc Inc

Optional Redemption in Cash. The Company may prepay Companies will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty fifteen percent (130115%) of the Principal Amount principal amount of this Note then outstanding at such time together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven no later than ten (710) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount (plus any additional interest and fees accruing on the Notes during the Redemption Period) must be irrevocably paid in good full in immediately available funds to the Holder. In the event the Company fails Companies fail to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will shall be null and void.

Appears in 1 contract

Samples: Ronco Corp

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty twenty five percent (130125%) of the Principal Amount outstanding unpaid principal amount of this Note at the time of such time prepayment together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Agreement, or any other Related Agreement (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "Notice of Redemption") specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the "Redemption Payment Date”), ") which date shall be seven (7) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s such Xxxxxx's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Host America Corp

Optional Redemption in Cash. The Company may prepay Borrowers will have the option of prepaying this Note (“Optional Redemption”"OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty twenty percent (130120%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Security Agreement or any other Related Ancillary Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to in the Holder a Security Agreement) (the "REDEMPTION AMOUNT") on the day written notice of redemption (the "NOTICE OF REDEMPTION") is given to the Holder. The Notice of Redemption”) specifying Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), "REDEMPTION PAYMENT DATE") which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”)"REDEMPTION PERIOD") . A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defineddefined below) pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s such Hxxxxx's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount (plus any additional interest and fees accruing on the Notes during the Redemption Period) must be irrevocably paid in good full in immediately available funds to the Holder. In the event the Company fails Borrowers fail to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Catalyst Lighting Group Inc

Optional Redemption in Cash. The Company may prepay Companies will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to (a) one hundred thirty twenty percent (130120%) of the Principal Amount outstanding at such time together with principal balance of this Note plus (b) accrued but unpaid interest thereon and plus (c) any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven (7) business days after the date of the Notice of Redemption (or if such day is not a Business Day, the next succeeding Business Day) (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defineddefined below) pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holdersuch Xxxxxx’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount (plus any additional interest and fees accruing on the Notes during the Redemption Period) must be irrevocably paid in good full in immediately available funds to the Holder. In the event the Company fails Companies fail to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will shall be null and void.

Appears in 1 contract

Samples: Airnet Communications Corp

Optional Redemption in Cash. The Company may prepay Companies will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty twenty percent (130120%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company Companies shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defineddefined below) pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holdersuch Hxxxxx’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount (plus any additional interest and fees accruing on the Notes during the Redemption Period) must be irrevocably paid in good full in immediately available funds to the Holder. In the event the Company fails Companies fail to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will shall be null and void.

Appears in 1 contract

Samples: House of Brussels Chocolates Inc

Optional Redemption in Cash. The Company may prepay will have the option of redeeming this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty twenty percent (130120%) of the Principal Amount outstanding at such time together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any other Related Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in full in good funds to the Holder. In the event the Company fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Waiver Agreement (Xfone Inc)

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty twenty five percent (130125%) of the Principal Amount outstanding at such time principal amount of this Note, together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Agreement, or any other Related Agreement (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company Borrower shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the "Redemption Payment Date"), which date shall be seven (7) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the such Holder’s 's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Securities Purchase Agreement (American Water Star Inc)

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note in full (but not in part) in cash, ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty fifteen percent (130115%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (as defined in the Security Agreement) (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "Notice of Redemption") specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the "Redemption Payment Date”), ") which date shall be seven (7) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the such Holder’s 's conversion elections had been completed immediately immedixxxxx prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Veridium Corp

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty twenty percent (130120%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Agreement Ancillary Agreement, except the Revolving Note (as such terms are defined in the Security Agreement) (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company Borrower shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defineddefined below) pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holdersuch Hxxxxx’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount (plus any additional interest and fees accruing on the Notes during the Redemption Period) must be irrevocably paid in good full in immediately available funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Digital Lifestyles Group Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty fifteen percent (130115%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (as defined in the Security Agreement) (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the “Notice of Redemption”) specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), ) which date shall be seven ten (710) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holdersuch Xxxxxx’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Time America Inc

Optional Redemption in Cash. The Company may prepay Companies will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty twenty four percent (130124%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defineddefined below) pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the such Holder’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount (plus any additional interest and fees accruing on the Notes during the Redemption Period) must be irrevocably paid in good full in immediately available funds to the Holder. In the event the Company fails Companies fail to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will shall be null and void.

Appears in 1 contract

Samples: Iwt Tesoro Corp

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note in full ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty fifteen percent (130115%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, Note or the Purchase Agreement or any other Related Agreement Document (as defined in the Purchase Agreement) (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "Notice of Redemption") specifying is given to the Holder, which Notice of Redemption shall specify the date for such Optional Redemption (the "Redemption Payment Date”), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected pending election to be made by the Holder convert pursuant to Section 3.3 during 3.1 and the Redemption Period. The Redemption Amount shall be determined as if the Holder’s conversion elections such election to convert had been completed immediately prior to the date of the Notice of Redemption. The Redemption Payment Date shall not be earlier than the day after the date of the Notice of Redemption and not later than seven (7) days after the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on by the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Ventures National Inc

Optional Redemption in Cash. The Company may prepay this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty percent (130%) of the Principal Amount outstanding at such time together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any other Related Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 Article III during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Patients & Physicians, Inc.

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty percent (130125%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (as defined in the Security Agreement) (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "Notice of Redemption") specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the "Redemption Payment Date”), ") which date shall be seven (7) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the such Holder’s 's conversion elections had been completed immediately prior to prixx xx the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Conolog Corp

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty two percent (130102%), if there exists an effective current Registration Statement (as defined in the Registration Rights Agreement) covering the shares of Common Stock to be issued in connection with such payment, otherwise one hundred four percent (104%), of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (as defined in the Security Agreement) (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the "Notice of Redemption") specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the "Redemption Payment Date”), ") which date shall be seven ten (710) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the such Holder’s 's conversion elections had been completed immediately prior to prxxx xx the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Dyntek Inc

Optional Redemption in Cash. The Company Companies may prepay this Note ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty percent (130%) of the Principal Amount outstanding at such time together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Security Agreement or any other Related Ancillary Agreement (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company Companies shall deliver to the Holder a written notice of redemption (the "Notice of Redemption") specifying the date for such Optional Redemption (the "Redemption Payment Date"), which date shall be seven ten (710) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) or for conversions elected to be made by the Holder pursuant to Section 3.3 during the Redemption Period. The Redemption Amount shall be determined as if the Holder’s 's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company fails Companies fail to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.. HOLDER'S CONVERSION RIGHTS

Appears in 1 contract

Samples: American Mold Guard Inc

Optional Redemption in Cash. The Company may prepay will have the option of prepaying this Note Note, either in whole or in part, without premium or penalty of any kind or nature (an “Optional Cash Redemption”) by paying to the Holder a sum of money cash equal to one hundred thirty percent (130100%) of the Principal Amount outstanding at such time principal amount to be prepaid (together with all accrued but unpaid interest thereon and any and all other sums then due, accrued or and payable to the Holder arising under this Note, the Purchase Agreement Agreement, or any other Related Agreement Agreement) (the each, a Cash Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of cash redemption (the each, a “Notice of Cash Redemption”) specifying the date for such Optional Cash Redemption (the each, a Cash Redemption Payment Date”), which date shall be seven ten (710) business days after the date of the respective Notice of Cash Redemption (the each, a Cash Redemption Period”). A Notice of Cash Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defineddefined below) pursuant to Section 3.1, or for conversions are elected to be made by the Holder pursuant to Section 3.3 3.1 during the Cash Redemption Period. The A Cash Redemption Amount shall be determined as if the Holdersuch Hxxxxx’s conversion elections had been completed immediately prior to the date of the respective Notice of Cash Redemption. On the a Cash Redemption Payment Date, the respective Cash Redemption Amount (plus any additional interest and fees accruing on such Cash Redemption Amount during the Cash Redemption Period) must be irrevocably paid in good full in immediately available funds to the Holder. In the event the Company fails fail to pay the a Cash Redemption Amount on the a Cash Redemption Payment Date as set forth hereinDate, then such the respective Cash Redemption Notice will shall be null and void.

Appears in 1 contract

Samples: Numerex Corp /Pa/

Optional Redemption in Cash. The Company may prepay Companies will have the option of prepaying this Note ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty percent (130%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Security Agreement, or any other Related Ancillary Agreement (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a written notice of redemption (the "Notice of Redemption") specifying the date for such Optional Redemption (the "Redemption Payment Date"), which date shall be seven ten (710) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defineddefined below) pursuant to Section 3.1, or for conversions elected to be made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the such Holder’s 's conversion elections had been completed immediately prior to the date xxxx of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount (plus any additional interest and fees accruing on the Notes during the Redemption Period) must be irrevocably paid in good full in immediately available funds to the Holder. In the event the Company fails Companies fail to pay the Redemption Amount on the Redemption Payment Date as set forth hereinDate, then such Redemption Notice will shall be null and void.

Appears in 1 contract

Samples: RG America, Inc.

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred thirty percent (130%) of the Principal Amount then outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Agreement, or any other Related Agreement (the “Redemption Amount”) outstanding on the Redemption Payment Date (as defined below). The Company shall deliver to the Holder a day written notice of redemption (the “Notice of Redemption”) specifying is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the “Redemption Payment Date”), ) which date shall be seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the Holdersuch Xxxxxx’s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Pacific Biometrics Inc

Optional Redemption in Cash. The Company may prepay Borrower will have the option of prepaying this Note ("Optional Redemption") by paying to the Holder a sum of money equal to one hundred thirty percent (130%) of the Principal Amount outstanding at such time principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement Agreement, or any other Related Agreement (the "Redemption Amount") outstanding on the Redemption Payment Date (as defined below). The Company Borrower shall deliver to the Holder a written notice of redemption (the "Notice of Redemption") specifying the date for such Optional Redemption (the "Redemption Payment Date"), which date shall be seven ten (710) business days after the date of the Notice of Redemption (the "Redemption Period"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has previously delivered a Notice of Conversion (as hereinafter defined) pending election to convert pursuant to Section 3.1, or for conversions elected to be initiated or made by the Holder pursuant to Section 3.3 3.1 during the Redemption Period. The Redemption Amount shall be determined as if the such Holder’s 's conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

Appears in 1 contract

Samples: Science Dynamics Corp

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