Common use of Payment of Monthly Amount in Cash or Common Stock Clause in Contracts

Payment of Monthly Amount in Cash or Common Stock. If the Monthly Amount (or a portion thereof of such Monthly Amount if such portion of the Monthly Amount would have been converted into shares of Common Stock but for Section 3.2) is required to be paid in cash pursuant to Section 2.1(b), then the Borrower shall pay the Holder an amount equal to 100% of the Monthly Amount due and owing to the Holder on the Repayment Date in cash. If such repayment in cash is required, in whole or part, the underlying data as reported by Bloomberg, L.P., used to support such calculations, will be provided to the Borrower upon request. If the Monthly Amount (or a portion of such Monthly Amount if not all of the Monthly Amount may be converted into shares of Common Stock pursuant to Section 3.2) is required to be paid in shares of Common Stock pursuant to Section 2.1(b), the number of such shares to be issued by the Borrower to the Holder on such Repayment Date (in respect of such portion of the Monthly Amount converted into in shares of Common Stock pursuant to Section 2.1(b)), shall be the number determined by dividing (x) the portion of the Monthly Amount converted into shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial “Fixed Conversion Price” means $0.53 which has been determined on the date of this Note as an amount equal to 110% of the average closing price for ten (10) trading days immediately prior to the date of this Note. .

Payment of Monthly Amount in Cash or Common Stock. If the Monthly Amount (or a portion thereof of such Monthly Amount if such portion of the Monthly Amount would have been converted into shares of Common Stock but for Section 3.2) is required to be paid in cash pursuant to Section 2.1(b), then the Borrower shall pay the Holder an amount equal to 100102% of the Monthly Amount due and owing to the Holder on the Repayment Date in cash. If such repayment in cash is required, in whole or part, the underlying data as reported by Bloomberg, L.P., used to support such calculations, will be provided to the Borrower upon request. If the Monthly Amount (or a portion of such Monthly Amount if not all of the Monthly Amount may be converted into shares of Common Stock pursuant to Section 3.2) is required to be paid in shares of Common Stock pursuant to Section 2.1(b), the number of such shares to be issued by the Borrower to the Holder on such Repayment Date (in respect of such portion of the Monthly Amount converted into in shares of Common Stock pursuant to Section 2.1(b)), shall be the number determined by dividing (x) the portion of the Monthly Amount converted into shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial initially, “Fixed Conversion Price” means shall mean, individually, each of the following taken separately, and, collectively, each of the following taken together: (i) with respect to the first $0.53 which has been determined on the date 2,000,000 principal amount of this Note as an amount equal to 110% of the average closing price for ten (10) trading days immediately prior converted pursuant to the date terms hereof (and all interest and fees related thereto), $0.97, (ii) with respect to the next $2,000,000 principal amount of this Note. Note converted pursuant to the terms hereof (and all interest and fees related thereto), $1.21 and (iii) with respect to the remaining $2,000,000 principal amount of this Note converted pursuant to the terms hereof (and all interest and fees related thereto), $1.33.

Payment of Monthly Amount in Cash or Common Stock. If the Monthly Amount (or a portion thereof of such Monthly Amount if such portion of the Monthly Amount would have been converted into shares of Common Stock but for Section 3.2) is required to shall be paid in cash pursuant to Section 2.1(b) or 2.1(c), then the Borrower shall pay the Holder an amount equal to 100% One Hundred one percent (101%) of the principal amount of the Monthly Amount then due and owing to the Holder on in cash, within three (3) days of the Repayment Date in cash. If (excluding such repayment in cash is required, in whole or part, the underlying data as reported by Bloomberg, L.P., used to support portion thereof of such calculations, will be provided to the Borrower upon requestMonthly Amount that would have been converted into shares of Common Stock but for Section 3.2 ). If the Monthly Amount (or a portion of such Monthly Amount if not all of the Monthly Amount may be is converted into shares of Common Stock pursuant to Section 3.2) is required to be paid in shares of Common Stock pursuant to Section 2.1(b)) , the number of such shares to be issued by the Borrower to the Holder on such Repayment Date (in respect of such portion of the Monthly Amount converted into in shares of Common Stock pursuant to Section 2.1(b)), shall be the number determined by dividing (x) the portion of the Monthly Amount converted into shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial “"Fixed Conversion Price” " means $0.53 which has been determined on the date 1.00, subject to Section 3.5 of this Note as an amount equal Agreement, shall at no time be less than $1.00. The Fixed Conversion Price shall be reset to 110% the closing price of the average closing price for ten common stock on each date upon which an aggregate of $500,000 of conversions are made (10singularly or in the aggregate) trading days immediately prior pursuant to the date terms hereof (the "Reset"). For the purposes of this Note. the preceding sentence, if a conversion amount exceeds the applicable $500,000 threshold, triggering a Reset, such conversion amount (not to exceed $50,000) shall be converted at such Fixed Conversion Price then in effect.

Payment of Monthly Amount in Cash or Common Stock. If the Monthly Amount (or a portion thereof of such Monthly Amount if such portion of the Monthly Amount would have been converted into shares of Common Stock but for Section 3.2) is required to shall be paid in cash pursuant to Section 2.1(b) or 2.1(c), then the Borrower shall pay the Holder an amount equal to 100% One Hundred one percent (101%) of the principal amount of the Monthly Amount then due and owing to the Holder on in cash, within three (3) days of the Repayment Date in cash. If (excluding such repayment in cash is required, in whole or part, the underlying data as reported by Bloomberg, L.P., used to support portion thereof of such calculations, will be provided to the Borrower upon requestMonthly Amount that would have been converted into shares of Common Stock but for Section 3.2 ). If the Monthly Amount (or a portion of such Monthly Amount if not all of the Monthly Amount may be is converted into shares of Common Stock pursuant to Section 3.2) is required to be paid in shares of Common Stock pursuant to Section 2.1(b), the number of such shares to be issued by the Borrower to the Holder on such Repayment Date (in respect of such portion of the Monthly Amount converted into in shares of Common Stock pursuant to Section 2.1(b)), shall be the number determined by dividing (x) the portion of the Monthly Amount converted into shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial “Fixed Conversion Price” means $0.53 which has been determined on the date 1.00, subject to Section 3.5 of this Note as an amount equal Agreement, shall at no time be less than $1.00. The Fixed Conversion Price shall be reset to 110% the closing price of the average closing price for ten common stock on each date upon which an aggregate of $500,000 of conversions are made (10singularly or in the aggregate) trading days immediately prior pursuant to the date terms hereof (the “Reset”). For the purposes of this Note. the preceding sentence, if a conversion amount exceeds the applicable $500,000 threshold, triggering a Reset, such conversion amount (not to exceed $50,000) shall be converted at such Fixed Conversion Price then in effect.