Payment and Prepayment. Borrower shall have the right to prepay the Loan, in whole or in part, at any time without penalty. All payments received by Lender shall be applied, first, to the payment of fees, interest and other obligations (other than principal) hereunder, and second, to the payment of principal, each in such order and priority as the Lender shall determine in its sole discretion. Upon full payment of all amounts due and owing on the Loan, and Borrower giving written notice to the Lender, the Lender shall immediately return the original Notes to Borrower marked "Satisfied."
Payment and Prepayment. All payments and prepayments of the ---------------------- Principal Amount and interest on this Note shall be made to the Lender in lawful money of the United States of America at the principal offices of the Lender. Any prepayments of any portion of the Principal Amount shall be accompanied by payment of all interest accrued but unpaid on the Principal Amount being prepaid.
Payment and Prepayment. All payments and prepayments of the Principal Sum of and the accrued interest on this Note shall be made to the Company or its order, or to the legal holder of this Note or such holder's order, in lawful money of the United States of America at the principal offices of the Company (or at such other place as the holder hereof shall notify the Borrower in writing). The Borrower may, at his option, prepay this Note in whole or in part at any time or from time to time without penalty or premium. Any prepayments of any portion of the Principal Sum of this Note shall be accompanied by payment of all interest accrued but unpaid on the portion of Principal Sum so repaid. Upon full and final payment of the Principal Sum of and interest accrued on this Note, it shall be surrendered to the Borrower and the Pledged Collateral (as defined below) shall be released, subject to the terms of any other note or similar agreement entered into by and between the Company and the Borrower from time to time.
Payment and Prepayment. (i) On the Maturity Date, the entire Payment Amount shall become due and payable in cash (except as may be paid pursuant to clause (ii) below). The Company may prepay this Note (together with all other Notes) in full (but not in part) in cash at any time after the Original Issue Date in an amount equal to the Payment Amount without any penalty.
(ii) If the Preferred Stock Payment Conditions have been satisfied on or before the Maturity Date, the Company and the Holder shall, in conjunction with the closing of the issuance of at least $3,750,000 of Series A Preferred Stock to cash investors, exchange the Note and all amounts owing thereunder for a number of shares of Series A Preferred Stock equal to the Payment Amount as of the date of such exchange divided by the per share stated value of the Series A Preferred Stock (which shall not be greater than the per share cash consideration paid by the cash investors in the Series A Preferred Stock).
(iii) If, at any time while this Note is outstanding, a Fundamental Transaction has been consummated, the Holder shall have the right to convert the Payment Amount (in full and not in part), as of the date of such conversion, into a number of shares of common stock equal to the such Payment Amount divided by the Minimum Price and receive the number of shares of common stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration receivable as a result of such Fundamental Transaction by a holder of the number of shares of common stock equal to the number of converted shares issuable to the Holder pursuant to this clause (iii). Upon the exercise of the Holder’s option hereunder the Note shall be paid in full and the Company shall have no further obligations to the Holder under the Note. If holders of common stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the alternate consideration it receives pursuant to this clause (iii).
Payment and Prepayment. The principal amount of this Debenture shall not bear any interest. Except as otherwise set forth in this Debenture, the Company may not prepay any portion of the principal amount of this Debenture without the prior written consent of the Holder.
Payment and Prepayment. 2.1 The total and outstanding unpaid principal balance of this Impact Fund (Balloon) Loan Note shall become due and payable in a single lump sum balloon payment on the Maturity Date. All of the payments required hereunder shall be made to Impact Fund Lender at its address shown above, or at such other place as Impact Fund Lender may direct in writing. If Borrower does not repay the full lump sum balloon payment on the Maturity Date, the Borrower will be in default.
2.2 This Impact Fund (Balloon) Loan Note may be prepaid in full or in part at any time without penalty.
Payment and Prepayment. (a) if the borrower of any of his Permitted Transferees shall sell any shares of Class A Common Stock, such sale shall be made only for cash, and Borrower agrees to promptly deliver to the Company the consideration received by the Borrower on such sale of shares of Stock as partial payment of the unpaid principal and accrued and unpaid interest on this Secured Promissory Note until this Secured Promissory Note is paid in full.
(b) All payments of principal and interest on this Secured Promissory Note shall be made to the Company or its order in lawful money of the United States of America and in immediately available funds at the offices of the Company at its then principal place of business (or at such other place as the holder hereof shall notify Borrower in writing). Borrower may, at his option, prepay this Secured Promissory Note in whole or in part at any time or from time to time without penalty or premium. Any prepayments of any portion of the principal amount of this Secured Promissory Note shall be accompanied by payment of all interest accrued but unpaid hereunder.
(c) Concurrently with any payment of any portion of this Secured Promissory Note pursuant to paragraph 1(a) hereof or any prepayment of any portion of the principal amount of this Secured Promissory Note pursuant to paragraph 1(b) hereof, the Company shall make a notation of such application or payment on this Secured Promissory Note. If full payment of all unpaid principal of and accrued and unpaid interest on this Secured Promissory Note is made, this Secured Promissory Note shall be cancelled. Any partial payment or prepayment shall be applied first to accrued and unpaid interest hereon and then to the unpaid installments of principal hereof in the inverse order of their maturity.
Payment and Prepayment. 2.1 The total and outstanding unpaid principal balance of this Impact Fund Mortgage Note shall become due and payable in a single lump sum payment on the Maturity Date. All of the payments required hereunder shall be made to Impact Fund Lender at its address shown hereinabove, or at such other place as Impact Fund Lender may direct in writing.
2.2 This Impact Fund Mortgage Note may be prepaid in full or in part at any time without penalty.
Payment and Prepayment. 4.1 The Buyer shall be entitled to prepay the Seller’s Credit in whole or in part at any time without penalty, by giving the Seller not less than 3 Banking Days’ irrevocable notice.
4.2 The Buyer shall repay the Seller’s Credit (net of any fees, taxes and charges) latest 12 months after the Delivery Date.
Payment and Prepayment. The Deferred Rent, together with any accrued and unpaid interest, shall be due on the first Business Day of July 2011. The Deferred Rent may be prepaid at any time without premium or penalty, in whole or part, provided any partial prepayment shall be made in multiples of $1,000,000, together with accrued and unpaid interest, if any.
