Common use of Payment of Principal and Interest; Payment Mechanics Clause in Contracts

Payment of Principal and Interest; Payment Mechanics. The Company will pay all amounts due on each Convertible Debenture by the method and at the address specified for such purpose by Purchaser in writing, without the presentation or surrender of any Convertible Debenture or the making of any notation thereon, except that upon written request of the Company made concurrently with or reasonably promptly after payment or prepayment in full of this Convertible Debenture, the holder shall surrender the Convertible Debenture for cancellation, reasonably promptly after any such request, to the Company at its principal executive office. Prior to any sale or other disposition of any Convertible Debenture, the holder thereof will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender the Convertible Debenture to the Company in exchange for a new Convertible Debenture or Convertible Debentures. The Company will afford the benefits of this Section 3.1 to any direct or indirect transferee of the Convertible Debenture purchased under this Agreement and that has made the same agreement relating to this Convertible Debenture as Purchaser has in this Section 3.1; provided that such transferee is an "accredited investor" under Rule 501 of the Securities Act.

Appears in 8 contracts

Samples: Securities Purchase Agreement (American International Petroleum Corp /Nv/), Exchange Agreement (American International Petroleum Corp /Nv/), Securities Purchase Agreement (Eagle Wireless International Inc)

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Payment of Principal and Interest; Payment Mechanics. The Company will pay all amounts due on each Convertible Debenture Note by the method and at the address specified for such purpose by Purchaser in writing, without the presentation or surrender of any Convertible Debenture Note or the making of any notation thereon, except that upon written request of the Company made concurrently with or reasonably promptly after payment or prepayment in full of this Convertible DebentureNote, the holder shall surrender the Convertible Debenture Note for cancellation, reasonably promptly after any such request, to the Company at its principal executive office. Prior to any sale or other disposition of any Convertible DebentureNote, the holder thereof will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender the Convertible Debenture Note to the Company in exchange for a new Convertible Debenture Note or Convertible DebenturesNotes. The Company will afford the benefits of this Section 3.1 to any direct or indirect transferee of the Convertible Debenture Note purchased under this Agreement and that has made the same agreement relating to this Convertible Debenture Note as Purchaser has in this Section 3.1; provided that such transferee is an "accredited investor" under Rule 501 of the Securities Act.

Appears in 4 contracts

Samples: Securities Purchase Agreement (Galaxy Minerals Inc), Securities Purchase Agreement (ERF Wireless, Inc.), Securities Purchase Agreement (ERF Wireless, Inc.)

Payment of Principal and Interest; Payment Mechanics. The Company will pay all amounts due on each Convertible Debenture Note by the method and at the address specified for such purpose by Purchaser in writing, without the presentation or surrender of any Convertible Debenture Note or the making of any notation thereon, except that upon written request of the Company made concurrently with or reasonably promptly after payment or prepayment in full of this Convertible DebentureNote, the holder shall surrender the Convertible Debenture Note for cancellation, reasonably promptly after any such request, to the Company at its principal executive office. Prior to any sale or other disposition of any Convertible DebentureNote, the holder thereof will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender the Convertible Debenture Note to the Company in exchange for a new Convertible Debenture Note or Convertible DebenturesNotes. The Company will afford the benefits of this Section 3.1 to any direct or indirect transferee of the Convertible Debenture Note purchased under this Agreement and that has made the same agreement relating to this Convertible Debenture Note as Purchaser has in this Section 3.1; provided that such transferee is an "accredited investor" under Rule 501 of the Securities ActAct and the transaction is otherwise exempt from the registration requirements of the Securities Act and Purchaser provides the Company with a legal opinion from counsel in form and substance reasonably satisfactory to the Company.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Royal Spring Water Inc), Securities Purchase Agreement (Convergence Ethanol, Inc.)

Payment of Principal and Interest; Payment Mechanics. The Company will pay all amounts due on each Convertible Debenture Note by the method and at the address specified for such purpose by Purchaser in writing, without the presentation or surrender of any Convertible Debenture Note or the making of any notation thereon, except that upon written request of the Company made concurrently with or reasonably promptly after payment or prepayment in full of this Convertible DebentureNote, the holder shall surrender the Convertible Debenture Note for cancellation, reasonably promptly after any such request, to the Company at its principal executive office. Prior to any sale or other disposition of any Convertible DebentureNote, the holder thereof will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender the Convertible Debenture Note to the Company in exchange for a new Convertible Debenture Note or Convertible DebenturesNotes. The Company will afford the benefits of this Section 3.1 to any direct or indirect transferee of the Convertible Debenture Note purchased under this Agreement and that has made the same agreement relating to this Convertible Debenture Note as Purchaser has in this Section 3.1; provided that such transferee is an "accredited investor" under Rule 501 of the Securities Act.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Lahaina Acquisitions Inc), Securities Purchase Agreement (Lahaina Acquisitions Inc)

Payment of Principal and Interest; Payment Mechanics. The Company will pay all amounts due on each Convertible Debenture by the method and at the address specified for such purpose by Purchaser in writing, without the presentation or surrender of any Convertible Debenture or the making of any notation thereon, except that upon written request of the Company made concurrently with or reasonably promptly after payment or prepayment in full of this Convertible Debenture, the holder shall surrender the Convertible Debenture for cancellation, reasonably promptly after any such request, to the Company at its principal executive office. Prior to any sale or other disposition of any Convertible Debenture, the holder thereof will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender the Convertible Debenture to the Company in exchange for a new Convertible Debenture or Convertible Debentures. The Company will afford the benefits of this Section 3.1 to any direct or indirect transferee of the Convertible Debenture purchased under this Agreement and that has made the same agreement relating to this Convertible Debenture as Purchaser has in this Section 3.1; provided that such transferee is an "accredited investor" under Rule 501 of the Securities ActAct and that such transfer has been made in compliance with applicable securities laws.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Dial Thru International Corp), Securities Purchase Agreement (Dial Thru International Corp)

Payment of Principal and Interest; Payment Mechanics. The Company will pay all amounts due on each Convertible Debenture by the method wire transfer and at the address specified for such purpose by Purchaser in writing, without the presentation or surrender of any Convertible Debenture or the making of any notation thereon, except that upon written request of the Company made concurrently with or reasonably promptly after payment or prepayment in full of this Convertible Debenture, the holder shall surrender the Convertible Debenture for cancellation, reasonably promptly after any such request, to the Company at its principal executive office. Prior to any sale or other disposition of any Convertible Debenture, the holder thereof will, at its election, will either endorse submit the Convertible Debenture to the Company for endorsement thereon of the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender the Convertible Debenture to the Company in exchange for a new Convertible Debenture or Convertible Debentures. The Company will afford the benefits of this Section 3.1 to any direct or indirect transferee of the Convertible Debenture purchased under in accordance with the terms of this Agreement and that has made the same agreement relating to this Convertible Debenture as Purchaser has in this Section 3.1; provided that such transferee is an "accredited investor" under Rule 501 of the Securities ActAgreement.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Boston Biomedica Inc), Securities Purchase Agreement (Boston Biomedica Inc)

Payment of Principal and Interest; Payment Mechanics. The Company will pay all amounts due on each the Convertible Debenture Bridge Note by the method and at the address specified for such purpose by Purchaser in writing, without the presentation or surrender of any Convertible Debenture Bridge Note or the making of any notation thereon, except that upon written request of the Company made concurrently with or reasonably promptly after payment or prepayment in full of this Convertible DebentureBridge Note, the holder shall surrender the Convertible Debenture Bridge Note for cancellation, reasonably promptly after any such request, to the Company at its principal executive office. Prior to any sale or other disposition of any Convertible DebentureBridge Note, the holder thereof will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender the Convertible Debenture Bridge Note to the Company in exchange for a new Convertible Debenture Bridge Note or Convertible DebenturesBridge Notes. The Company will afford the benefits of this Section 3.1 to any direct or indirect transferee of the Convertible Debenture Bridge Note purchased under this Agreement and that has made the same agreement relating to this Convertible Debenture Bridge Note as Purchaser has in this Section 3.1; provided that such transferee is an "accredited investor" under Rule 501 of the Securities Act.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Titan Iron Ore Corp.), Securities Purchase Agreement (3dicon Corp)

Payment of Principal and Interest; Payment Mechanics. The Company will pay all amounts due on each the Convertible Debenture Note by the method and at the address specified for such purpose by Purchaser in writing, without the presentation or surrender of any the Convertible Debenture Note or the making of any notation thereon, except that upon written request of the Company made concurrently with or reasonably promptly after payment or prepayment in full of this Convertible DebentureNote, the holder shall surrender the Convertible Debenture Note for cancellation, reasonably promptly after any such request, to the Company at its principal executive office. Prior to any sale or other disposition of any the Convertible DebentureNote, the holder thereof will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender the Convertible Debenture Note to the Company in exchange for a new Convertible Debenture Note or Convertible DebenturesNote. The Company will afford the benefits of this Section 3.1 to any direct or indirect transferee of the Convertible Debenture Note purchased under this Agreement and that has made the same agreement relating to this Convertible Debenture Note as Purchaser has in this Section 3.1; provided that such transferee is an "accredited investor" under Rule 501 of the Securities Act.

Appears in 1 contract

Samples: Securities Purchase Agreement (Smartserv Online Inc)

Payment of Principal and Interest; Payment Mechanics. The Company will pay all amounts due on each Convertible Debenture by the method and at the address specified for such purpose by Purchaser in writing, without the presentation or surrender of any Convertible Debenture or the making of any notation thereon, except that upon written request of the Company made concurrently with or reasonably promptly after payment or prepayment in full of this Convertible Debenture, the holder shall surrender the Convertible Debenture for cancellation, reasonably promptly after any such request, to the Company at its principal executive office. Prior to any sale or other disposition of any Convertible Debenture, which transfer will not occur without the prior written consent of the Company, the holder thereof will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender the Convertible Debenture to the Company in exchange for a new Convertible Debenture or Convertible Debentures. The Company will afford the benefits of this Section 3.1 to any direct or indirect transferee of the Convertible Debenture purchased under this Agreement and that has made the same agreement relating to this Convertible Debenture as Purchaser has in this Section 3.1; provided that such transferee is an "accredited investor" under Rule 501 of the Securities ActAct and that such transfer has been made in compliance with applicable securities laws.

Appears in 1 contract

Samples: Securities Purchase Agreement (Metropolitan Health Networks Inc)

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Payment of Principal and Interest; Payment Mechanics. The Company will pay all amounts due on each Convertible Debenture Promissory Note by the method and at the address specified for such purpose by Purchaser in writing, without the presentation or surrender of any Convertible Debenture Promissory Note or the making of any notation thereon, except that upon written request of the Company made concurrently with or reasonably promptly after payment or prepayment in full of this Convertible DebenturePromissory Note, the holder shall surrender the Convertible Debenture Promissory Note for cancellation, reasonably promptly after any such request, to the Company at its principal executive office. Prior to any sale or other disposition of any Convertible DebenturePromissory Note which transfer will not occur without the prior written consent of the Company, the holder thereof will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender the Convertible Debenture Promissory Note to the Company in exchange for a new Convertible Debenture Promissory Note or Convertible DebenturesPromissory Note. The Company will afford the benefits of this Section 3.1 to any direct or indirect transferee of the Convertible Debenture Promissory Note purchased under this Agreement and that has made the same agreement relating to this Convertible Debenture Promissory Note as Purchaser has in this Section 3.1; provided that such transferee is an "accredited investor" under Rule 501 of the Securities ActAct and that such transfer has been made in compliance with applicable securities laws.

Appears in 1 contract

Samples: Securities Purchase Agreement (Metropolitan Health Networks Inc)

Payment of Principal and Interest; Payment Mechanics. The Company will pay all amounts due on each Convertible Debenture Note by the method and at the address specified for such purpose by the applicable Purchaser in writing, without the presentation or surrender of any Convertible Debenture Note or the making of any notation thereon, except that upon written request of the Company made concurrently with or reasonably promptly after payment or prepayment in full of this Convertible DebentureNote, the holder shall surrender the Convertible Debenture Note for cancellation, reasonably promptly after any such request, to the Company at its principal executive office. Prior to any sale or other disposition of any Convertible DebentureNote, the holder thereof will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender the Convertible Debenture Note to the Company in exchange for a new Convertible Debenture Note or Convertible DebenturesNotes. The Company will afford the benefits of this Section 3.1 to any direct or indirect transferee of the Convertible Debenture Note purchased under this Agreement and that has made the same agreement relating to this Convertible Debenture Note as the Purchaser has in this Section 3.1; provided that such transferee is an "accredited investor" under Rule 501 of the Securities Act.

Appears in 1 contract

Samples: Securities Purchase Agreement (American International Petroleum Corp /Nv/)

Payment of Principal and Interest; Payment Mechanics. The Company will pay all amounts due on each the Convertible Debenture Note by the method and at the address specified for such purpose by Purchaser in writing, without the presentation or surrender of any Convertible Debenture Note or the making of any notation thereon, except that upon written request of the Company made concurrently with or reasonably promptly after payment or prepayment in full of this Convertible DebentureNote, the holder shall surrender the Convertible Debenture Note for cancellation, reasonably promptly after any such request, to the Company at its principal executive office. Prior to any sale or other disposition of any the Convertible DebentureNote, the holder thereof will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender the Convertible Debenture Note to the Company in exchange for a new Convertible Debenture or Convertible DebenturesNote. The Company will afford the benefits of this Section 3.1 to any direct or indirect transferee of the Convertible Debenture Note purchased under this Agreement and that has made the same agreement relating to this Convertible Debenture Note as Purchaser has in this Section 3.1; provided that such transferee is an "accredited investor" under Rule 501 of the Securities Act.

Appears in 1 contract

Samples: Securities Purchase Agreement (Liberty Star Uranium & Metals Corp.)

Payment of Principal and Interest; Payment Mechanics. The Company will pay all amounts sums becoming due on each Convertible Debenture Note by the method and at the address specified for such purpose by as the applicable Purchaser shall have from time to time specified to the Company in writingwriting for such purpose, without the presentation or surrender of any Convertible Debenture Note or the making of any notation thereon, except that upon written request of the Company made concurrently with or reasonably promptly after payment or prepayment in full of this Convertible DebentureNote, the holder shall surrender the Convertible Debenture Note for cancellation, reasonably promptly after any such request, to the Company at its principal executive office. Prior to any sale or other disposition of any Convertible DebentureNote, the holder thereof will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender the Convertible Debenture Note to the Company in exchange for a new Convertible Debenture Note or Convertible DebenturesNotes. The Company will afford the benefits of this Section 3.1 to any direct or indirect transferee of the Convertible Debenture Note purchased under this Agreement and that has made the same agreement relating to this Convertible Debenture Note as the Purchaser has in this Section 3.1; provided that such transferee is an "accredited investor" under Rule 501 of the Securities Act.

Appears in 1 contract

Samples: Securities Purchase Agreement (American International Petroleum Corp /Nv/)

Payment of Principal and Interest; Payment Mechanics. The Company will pay all amounts due on each the Senior Convertible Debenture Note by the method and at the address specified for such purpose by Purchaser in writing, without the presentation or surrender of any Senior Convertible Debenture Note or the making of any notation thereon, except that upon written request of the Company made concurrently with or reasonably promptly after payment or prepayment in full of this Senior Convertible DebentureNote , the holder shall surrender the Senior Convertible Debenture Note for cancellation, reasonably promptly after any such request, to the Company at its principal executive office. Prior to any sale or other disposition of any Senior Convertible DebentureNote , the holder thereof will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender the Senior Convertible Debenture Note to the Company in exchange for a new Senior Convertible Debenture Note or Senior Convertible DebenturesNote . The Company will afford the benefits of this Section 3.1 to any direct or indirect transferee of the Senior Convertible Debenture Note and Warrants purchased under this Agreement and that has made the same agreement relating to this Senior Convertible Debenture Note and Warrants as Purchaser has in this Section 3.1; provided that such transferee is an "accredited investor" under Rule 501 of the Securities Act.

Appears in 1 contract

Samples: Securities Purchase Agreement (3dicon Corp)

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