Common use of Payment of Interest in Cash or Kind Clause in Contracts

Payment of Interest in Cash or Kind. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Note (less the Original Issue Discount) at the rate of 10% per annum, half of which interest amount shall be guaranteed and the total amount of interest due on the Note for a period of six (6) months shall be deemed earned as of the Original Issue Date. All interest payments hereunder will be payable in cash, or subject to the Equity Conditions, in cash or Common Stock in the Company’s discretion. Accrued and unpaid interest shall be due on payable on each Conversion Date and on the Maturity Date, or as otherwise set forth herein.

Appears in 4 contracts

Samples: Securities Purchase Agreement (CannaVEST Corp.), Convertible Security Agreement (CannaVEST Corp.), Securities Purchase Agreement (CannaVEST Corp.)

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Payment of Interest in Cash or Kind. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Note (less the Original Issue Discount) at the rate of 10% per annum, half of which interest amount shall be guaranteed for six (6) months and the total amount of such interest due on the Note for a period of six (6) months shall be deemed earned as of the Original Issue Date. All interest payments hereunder will be payable in cash, or subject to the Equity Conditions, in cash or Common Stock in the Company’s discretion. Accrued and unpaid interest shall be due on and payable on each Conversion Date and on the Maturity Date, or as otherwise set forth herein.

Appears in 3 contracts

Samples: Convertible Security Agreement (Epic Stores Corp.), Convertible Security Agreement (Epic Stores Corp.), Convertible Security Agreement (Epic Stores Corp.)

Payment of Interest in Cash or Kind. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Note (less the Original Issue Discount) at the rate of 10% per annum, which half of which the base interest amount shall be guaranteed and the total amount of interest due on the Note for a period of six (6) months shall be deemed earned as of the Original Issue Date. All interest payments hereunder will be payable in cash, or subject to the Equity Conditions, in cash or Common Stock common stock in the Company’s discretion. Accrued and unpaid interest shall be due on payable on each Conversion Date and on the Maturity Date, or as otherwise set forth herein. Notwithstanding anything to the contrary contained herein, the Company.

Appears in 3 contracts

Samples: Convertible Security Agreement (Lifelogger Technologies Corp), Securities Purchase Agreement (Lifelogger Technologies Corp), Convertible Security Agreement (Lifelogger Technologies Corp)

Payment of Interest in Cash or Kind. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Note (less the Original Issue Discount) at the rate of 108% per annum, which half of which the base interest amount shall be guaranteed and the total amount of interest due on the Note for a period of six (6) months shall be deemed earned as of the Original Issue Date. All interest payments hereunder will be payable in cash, or subject to the Equity Conditions, in cash or Common Stock common stock in the Company’s discretion. Accrued and unpaid interest shall be due on payable on each Conversion Date and on the Maturity Date, or as otherwise set forth herein.. Notwithstanding anything to the contrary contained herein, the Company

Appears in 2 contracts

Samples: Convertible Security Agreement (Ifan Financial, Inc.), Convertible Security Agreement (Lifelogger Technologies Corp)

Payment of Interest in Cash or Kind. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Note (less the Original Issue Discount) at the rate of 108% per annum, which half of which the base interest amount shall be guaranteed and the total amount of interest due on the Note for a period of six (6) months shall be deemed earned as of the Original Issue Date. All interest payments hereunder will be payable in cash, or subject to the Equity Conditions, in cash or Common Stock common stock in the Company’s 's discretion. Accrued and unpaid interest shall be due on and payable on each Conversion Date and on the Maturity Date, or as otherwise set forth herein.

Appears in 1 contract

Samples: Convertible Security Agreement (Greenhouse Solutions, Inc.)

Payment of Interest in Cash or Kind. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Note (less the Original Issue Discount) at the rate of 10% per annum, which half of which the base interest amount shall be guaranteed and the total amount of interest due on the Note for a period of six (6) months shall be deemed earned as of the Original Issue Date. All interest payments hereunder will be payable in cash, or subject to the Equity Conditions, in cash or Common Stock common stock in the Company’s discretion. Accrued and unpaid interest shall be due on payable on each Conversion Date and on the Maturity Date, or as otherwise set forth herein.. Notwithstanding anything to the contrary contained herein, the Company

Appears in 1 contract

Samples: Convertible Security Agreement (Lifelogger Technologies Corp)

Payment of Interest in Cash or Kind. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Note (less the Original Issue Discount) at the rate of 108% per annum, which half of which the base interest amount shall be guaranteed and the total amount of interest due on the Note for a period of six (6) months shall be deemed earned as of the Original Issue Date. All interest payments hereunder will be payable in cash, or subject to satisfaction of the Equity Conditions, in cash or Common Stock common stock in the Company’s discretion. Accrued and unpaid interest shall be due on and payable on each Conversion Date and on the Maturity Date, or as otherwise set forth herein.

Appears in 1 contract

Samples: Convertible Security Agreement (Ifan Financial, Inc.)

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Payment of Interest in Cash or Kind. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Note (less the Original Issue Discount) at the rate of 10% per annum, which half of which the base interest amount shall be guaranteed and the total amount of interest due on the Note for each tranche funded, for a period of six (6) months months, shall be deemed earned as of the Original Issue Datefunding date of the respective tranche. All interest payments hereunder will be payable in cash, or subject to the Equity Conditions, in cash or Common Stock common stock in the CompanyHolder’s discretion. Accrued and unpaid interest shall be due on payable on each Conversion Date and on the Maturity Date, or as otherwise set forth herein. Notwithstanding anything to the contrary contained herein, the Company.

Appears in 1 contract

Samples: Convertible Security Agreement (Directview Holdings Inc)

Payment of Interest in Cash or Kind. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Note (less the Original Issue Discount) at the rate of 108% per annum, which half of which the base interest amount shall be guaranteed and the total amount of interest due on the Note for a period of six (6) months shall be deemed earned as of the Original Issue Date. All interest payments hereunder will be payable in cash, or subject to the Equity Conditions, in cash or Common Stock common stock in the Company’s discretion. Accrued and unpaid interest shall be due on and payable on each Conversion Date and on the Maturity Date, or as otherwise set forth herein.

Appears in 1 contract

Samples: Convertible Security Agreement (Lifelogger Technologies Corp)

Payment of Interest in Cash or Kind. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Note (less the Original Issue Discount) at the rate of 10% per annum, which half of which the base interest amount shall be guaranteed and the total amount of interest due on the Note for a period of six (6) months shall be deemed earned as of the Original Issue Date. All interest payments hereunder will be payable in cash, or subject to the Equity Conditions, in cash or Common Stock common stock in the Company’s 's discretion. Accrued and unpaid interest shall be due on payable on each Conversion Date and on the Maturity Date, or as otherwise set forth herein. Notwithstanding anything to the contrary contained herein, the Company.

Appears in 1 contract

Samples: Convertible Security Agreement (Mantra Venture Group Ltd.)

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