Common use of Payment of Balance Clause in Contracts

Payment of Balance. If Parent is unable to issue the full ------------------ number of Shares necessary to repay the Purchase Order Amount due to the limit on the number of Shares provided in section 2(a), Parent shall pay the balance due (the "Balance"), to Purchaser as follows: (i) If the Balance is not more than $50,000, the full amount of the Balance shall be paid by Sub to Purchaser within ten (10) days of the Closing Date, by check or wire transfer; (ii) If the Balance is more than $50,000 but not more than $100,000, the Balance shall be paid by Sub by check or wire transfer to Purchaser in three equal installments of principal and interest (at the annual rate of ten percent), one such installment to be paid on each of ten (10) days after the Closing Date, the 90th day after the Closing Date, and the 150th day after the Closing Date; and (iii) If the Balance is more than $100,000, the Balance shall be paid by Sub to Purchaser (with interest at the annual rate of ten percent) over a period of not less than twelve months, with the payment schedule to be determined by mutual agreement of Parent and Purchaser.

Payment of Balance. If Parent is unable to issue the full number ------------------ number of Shares necessary to repay the Purchase Order Amount due to the limit on the number of Shares provided in section 2(a), Parent shall pay the balance due (the "Balance"), to Purchaser as follows: (i) If the Balance is not more than $50,000, the full amount of the Balance shall be paid by Sub to Purchaser within ten (10) days of the Closing Date, by check or wire transfer; (ii) If the Balance is more than $50,000 but not more than $100,000, the Balance shall be paid by Sub by check or wire transfer to Purchaser in three equal installments of principal and interest (at the annual rate of ten percent), one such installment to be paid on each of ten (10) days after the Closing Date, the 90th day after the Closing Date, and the 150th day after the Closing Date; and (iii) If the Balance is more than $100,000, the Balance shall be paid by Sub to Purchaser (with interest at the annual rate of ten percent) over a period of not less than twelve months, with the payment schedule to be determined by mutual agreement of Parent and Purchaser.

Payment of Balance. If Parent is unable to issue the full number ------------------ number of Shares necessary to repay the Purchase Order Amount due to the limit on the number of Shares provided in section 2(a), Parent shall pay the balance due (the "Balance"), to Purchaser as follows: (i) If the Balance is not more than $50,000, the full amount of the Balance shall be paid by Sub to Purchaser within ten (10) days of on the Closing Date, by check or wire transfer; (ii) If the Balance is more than $50,000 but not more than $100,000, the Balance shall be paid by Sub by check or wire transfer to Purchaser in three equal installments of principal and interest (at the annual rate of ten percent), one such installment to be paid on each of ten (10) days after the Closing Date, the 90th day after the Closing Date, and the 150th day after the Closing Date; and (iii) If the Balance is more than $100,000, the Balance shall be paid by Sub to Purchaser (with interest at the annual rate of ten percent) over a period of not less than twelve months, with the payment schedule to be determined by mutual agreement of Parent and Purchaser.

Payment of Balance. If Parent is unable to issue the full number ------------------ number of Shares necessary to repay the Purchase Order Promissory Note Amount due to the limit on the number of Shares provided in section 2(a), Parent shall pay the balance due (the "Balance"), to Purchaser as follows: (i) If the Balance is not more than $50,000, the full amount of the Balance shall be paid by Sub to Purchaser within ten (10) days of on the Closing Date, by check or wire transfer; (ii) If the Balance is more than $50,000 but not more than $100,000, the Balance shall be paid by Sub by check or wire transfer to Purchaser in three equal installments of principal and interest (at the annual rate of ten percent), one such installment to be paid on each of ten (10) days after the Closing Date, the 90th day after the Closing Date, and the 150th day after the Closing Date; and (iii) If the Balance is more than $100,000, the Balance shall be paid by Sub to Purchaser (with interest at the annual rate of ten percent) over a period of not less than twelve months, with the payment schedule to be determined by mutual agreement of Parent and Purchaser.