Common use of Payment of Interest in Cash Clause in Contracts

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture at the rate of 12% per annum, compounded semi-annually on December 31 and June 30, and payable, on each Conversion Date (as to that principal amount then being converted), and on the Maturity Date (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 4 contracts

Samples: Convertible Security Agreement (theMaven, Inc.), Convertible Security Agreement (theMaven, Inc.), Convertible Security Agreement (theMaven, Inc.)

AutoNDA by SimpleDocs

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture Note at the rate of 12% per annum, compounded semi-annually on December 31 and June 30, and payablepayable monthly, on the 16th calendar day of each Conversion Date (as to that principal amount then being converted)month, beginning on January 16, 2023 and on the Maturity Date (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 3 contracts

Samples: Convertible Security Agreement (White River Energy Corp.), Convertible Security Agreement (White River Energy Corp.), Convertible Security Agreement (White River Energy Corp.)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture at the rate of 128% per annum, compounded semi-annually payable in cash quarterly on December 31 January 1, April 1, July 1 and June 30October 1, and payablebeginning on January 1, 2010, on each Conversion Date (as to that principal amount then being converted), ) and on the Maturity Date (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 3 contracts

Samples: Convertible Security Agreement (Lifevantage Corp), Convertible Security Agreement (Lifevantage Corp), Convertible Security Agreement (Lifevantage Corp)

Payment of Interest in Cash. The Company shall pay interest in cash to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture at the rate of 1213% per annum, compounded semi-annually payable quarterly on December 31 January 1, April 1, July 1 and June 30October 1, and payable, beginning on each Conversion Date (as to that principal amount then being converted)the first such date after the Original Issue Date, and on the Maturity Date (each such date, an "Interest Payment Date") (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 3 contracts

Samples: Convertible Security Agreement (Analytical Surveys Inc), Convertible Security Agreement (Analytical Surveys Inc), Convertible Security Agreement (Analytical Surveys Inc)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture at the rate of 128% per annumannum from the Original Issue Date, compounded semi-annually payable monthly in arrears beginning on December 31 January 31, 2013 and June 30, and payable, on each Conversion Date (as to that principal amount then being converted), monthly anniversary date thereafter and on the Maturity Date (except that, if any such date is not a Business Day, then such payment shall be due on the next succeeding Business Day) (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 2 contracts

Samples: Convertible Security Agreement (Advanced Cell Technology, Inc.), Convertible Security Agreement (Advanced Cell Technology, Inc.)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture at the rate of 128% per annum, compounded semi-annually payable on December 31 and June 30, and payable, on each Conversion Date (as to that principal amount then being converted), and on the earlier of the acceleration of this Debenture by the Holder following an Event of Default or the Maturity Date (each such date, an the “Interest Payment Date”) (if any the Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 2 contracts

Samples: Convertible Security Agreement (Catasys, Inc.), Convertible Security Agreement (Catasys, Inc.)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture Note at the rate of 12% per annumInterest Rate, compounded semi-annually payable on December 31 the Maturity Date (except that, if any such date is not a Business Day, then such payment shall be due on the next succeeding Business Day) and June 30, and payable, on each Conversion Redemption Date (as to that principal amount then being converted), and on the Maturity Date (redeemed) ( each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 2 contracts

Samples: Convertible Security Agreement (U.S. Aerospace, Inc.), Convertible Security Agreement (U.S. Aerospace, Inc.)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture Note at the rate Prime (as adjusted monthly on the first Business Day of 12each month) plus 4.00% per annum, compounded semi-annually payable quarterly in arrears beginning on December 31 and June 30October 1, and payable2007, on the Maturity Date (except that, if any such date is not a Business Day, then such payment shall be due on the next succeeding Business Day) and on each Conversion Monthly Redemption Date (as to that principal amount then being converted), and on the Maturity Date redeemed) (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 2 contracts

Samples: Security Agreement (Shea Development Corp.), Security Agreement (Shea Development Corp.)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture Note at the rate of 1210% per annum, compounded semi-annually subject to adjustment as set forth herein, payable quarterly in arrears on December 31 and June 30the first Trading Day of each fiscal quarter, and payablebeginning on January 1, on each Conversion Date (as to that principal amount then being converted), 2014 and on the Maturity Date (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 2 contracts

Samples: Convertible Security Agreement (Bridgeline Digital, Inc.), Convertible Security Agreement (Bridgeline Digital, Inc.)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture at the rate of 128% per annum, compounded semi-annually on December 31 and June 30, and payable, payable on each Conversion Optional Redemption Date (as to that principal amount then being converted), redeemed) and on the Maturity Date (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 1 contract

Samples: Convertible Security Agreement (Soupman, Inc.)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture at the rate of 1210% per annum, compounded semi-annually on December 31 and June 30, and payable, on each Conversion Date (as to that principal amount then being converted), and payable on the Maturity Date (each such date, an the “Interest Payment Date”) (if any the Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 1 contract

Samples: Convertible Security Agreement (Innovus Pharmaceuticals, Inc.)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture at the rate of 128% per annum, compounded semi-annually payable quarterly on December 31 January 1, April 1, July 1 and June 30October 1, and payablebeginning on the first such date after the Original Issue Date, on each Conversion Date (as to that principal amount then being converted), ) and on the Maturity Date (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 1 contract

Samples: Convertible Security Agreement (Foldera, Inc)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture at the rate of 128% per annum, compounded semi-annually payable quarterly on December 31 January 1, April 1, July 1 and June 30October 1, and payablebeginning on the first such date after the Original Issue Date, on each Conversion Date (as to that principal amount then being converted), and on the Maturity Date (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 1 contract

Samples: Convertible Security Agreement (uVuMobile, Inc)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture at the rate of 128% per annum, compounded semi-annually payable quarterly on December 31 and March 31, June 30, September 30 and payableDecember 31, beginning on the first such date after the Original Issue Date and on each Conversion Date (solely as to that principal amount then being converted), ) and on the Maturity Date (except that, if any such date is not a Business Day, then such payment shall be due on the next succeeding Business Day) (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 1 contract

Samples: Convertible Security Agreement (Vistula Communications Services Inc)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture Note at the rate of 12% per annum, compounded semi-annually on December 31 and June 30, and payablepayable monthly, on the 16th calendar day of each Conversion Date (as to that principal amount then being converted)month, beginning on August 16, 2023 and on the Maturity Date (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 1 contract

Samples: Convertible Security Agreement (White River Energy Corp.)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture at the rate of 1210% per annum, compounded semi-annually payable monthly on December 31 and June 30the last Business Day of each calendar month, and payable, beginning on each Conversion Date (as to that principal amount then being converted)the first such date after the Original Issue Date, and on the Maturity Date (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 1 contract

Samples: Convertible Security Agreement (Enzo Biochem Inc)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture Note at the rate of 12% per annum, compounded semi-annually payable quarterly on December 31 and March 31, June 30, September 30 and payableDecember 31, in arrears, beginning on September 30, 2007 and on each Conversion Date (solely as to that principal amount then being converted), ) and on the Maturity Date (except that, if any such date is not a Business Day, then such payment shall be due on the next succeeding Business Day) (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 1 contract

Samples: Convertible Security Agreement (Vistula Communications Services, Inc.)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture Note at the rate of 128% per annum, compounded semi-annually payable on December 31 the last Business Day of each February, May, August and June 30, and payableNovember of each year, on each Conversion Date (as to that principal amount then being converted), and on the Maturity Date (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 1 contract

Samples: Convertible Security Agreement (Calm Waters Partnership)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture Note at the rate of 129% per annum, compounded semi-annually payable monthly in arrears beginning on December 31 the first day of the first month after the Original Issue Date and June 30, and payable, on each Conversion Date (as to that principal amount then being converted), ) and on the Maturity Date (each such dateexcept that, an “Interest Payment Date”) (if any Interest Payment Date such date is not a Business Day, then the applicable such payment shall be due on the next succeeding Business Day; each such date, an "Interest Payment Date"), in cash.

Appears in 1 contract

Samples: Convertible Security Agreement (Global Axcess Corp)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture at the rate of 1210% per annum, compounded semi-annually on December 31 and June 30, and payable, on each Conversion Date (as to that principal amount then being converted), and payable on the Maturity Date (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 1 contract

Samples: Convertible Security Agreement (Toughbuilt Industries, Inc)

AutoNDA by SimpleDocs

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture Note at the rate of 125% per annum, compounded semi-annually payable quarterly in arrears on December 31 and March 31, June 30, September 30 and payableDecember 31, beginning on March 31, 2008, on each Conversion Date (as to that principal amount then being converted), and on the Maturity Date (except that, if any such date is not a Business Day, then such payment shall be due on the next succeeding Business Day) (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 1 contract

Samples: Secured Convertible Note (China Water & Drinks Inc..)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture at the rate of 1210% per annum, compounded semi-annually payable monthly on December 31 and June 30the first day of each calendar month, and payablebeginning on October 1, 2018, on each Conversion Optional Redemption Date (as to that principal amount then being converted), redeemed) and on the Maturity Date (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 1 contract

Samples: Securities Amendment Agreement (Emmaus Life Sciences, Inc.)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture Note at the rate of 1215% per annum, compounded semi-annually payable on December 31 the last Business Day of each February, May, August and June 30, and payableNovember of each year, on each Conversion Date (as to that principal amount then being converted), and on the Maturity Date (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 1 contract

Samples: Convertible Security Agreement (Victory Electronic Cigarettes Corp)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture at the rate of 128% per annum, compounded semi-annually payable quarterly in arrears on December 31 January 1, April 1, July 1 and June 30October 1, and payablebeginning July 1, 2012, on each Conversion Date (as to that principal amount then being converted), ) and on the Maturity Date (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 1 contract

Samples: Convertible Security Agreement (InspireMD, Inc.)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture at the rate of 1210% per annum, compounded semi-annually on December 31 and June 30, and payable, payable on each Conversion Date (as to that principal amount then being converted), on each Optional Redemption Date (as to that principal amount then being redeemed) and on the Maturity Date (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 1 contract

Samples: Convertible Security Agreement (T3 Motion, Inc.)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture Note at the rate of 1210% per annum, compounded semi-annually which interest shall start accruing on December 31 and June 30July 1, and payable2016, on each Conversion Date (subject to adjustment as to that principal amount then being converted)set forth herein, and payable on the Maturity Date (each such date, an “Interest Payment Date”) (if any Interest Payment the Maturity Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 1 contract

Samples: Convertible Security Agreement (Bridgeline Digital, Inc.)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture at the rate of 1210% per annum, compounded semi-annually payable monthly on December 31 and June 30the first day of each calendar month, and payablebeginning on November 1, 2018, on each Conversion Optional Redemption Date (as to that principal amount then being converted), redeemed) and on the Maturity Date (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 1 contract

Samples: Security Agreement (Emmaus Life Sciences, Inc.)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture in cash at the rate of 1210.0% per annum, compounded semi-annually payable quarterly on December 31 January 1, April 1, July 1 and June 30October 1, and payable, beginning on each Conversion Date (as to that principal amount then being converted)the first such date after the Original Issue Date, and on the Maturity Date (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 1 contract

Samples: Securities Purchase Agreement (Amergent Hospitality Group, Inc)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture at the rate of 128% per annum, compounded semi-annually on December 31 and June 30, and payable, payable on each Conversion Date (as to that principal amount then being converted), and on the Maturity Date (except that, if any such date is not a Business Day, then such payment shall be due on the next succeeding Business Day) (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 1 contract

Samples: Convertible Security Agreement (Technoconcepts, Inc.)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture Note at the rate of 128.0% per annumannum in the aggregate, compounded semi-annually subject to adjustment as set forth herein, which shall be payable quarterly in cash in arrears on December 31 and June 30the first Trading Day of each fiscal quarter, and payablebeginning on July 1, on each Conversion Date (as to that principal amount then being converted), 2018 and on the Maturity Date (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 1 contract

Samples: Convertible Security Agreement (Intellinetics, Inc.)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture at the rate of 12% per annum, compounded semi-annually on December 31 and June 30, and payable, on each Conversion Date (as to that principal amount then being converted), and payable on the Maturity Date (each such date, an the “Interest Payment Date”) (if any the Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 1 contract

Samples: Convertible Security Agreement (NewLead Holdings Ltd.)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture at the rate of 128% per annum, compounded semi-annually on December 31 and June 30, and payable, payable on each Conversion Date (as to that principal amount then being converted), on each Optional Redemption Date (as to that principal amount then being redeemed) and on the Maturity Date (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash.

Appears in 1 contract

Samples: Convertible Security Agreement (Boldface Group, Inc.)

Payment of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture at the rate of 1210% simple interest per annum, compounded semi-annually on December 31 and June 30, and payable, on each Conversion Date (as to that principal amount then being converted), and payable on the Maturity Date Date, (each such dateexcept that, an “Interest Payment Date”) (if any Interest Payment Date such date is not a Business Day, then the applicable such payment shall be due on the next succeeding Business Day) (such date, the “Interest Payment Date”). All payment of interest shall be in cash except as provided in Section 4(e), in cashbelow.

Appears in 1 contract

Samples: Conversion Agreement (Viral Genetics Inc /De/)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!