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Common use of Payment of Principal Clause in Contracts

Payment of Principal. The "Maturity Date" shall be two years from the date of each payment of Consideration, as may be extended at the option of the Holder in the event that, and for so long as, an Event of Default (as defined below) shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) or any event shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) that with the passage of time and the failure to cure would result in an Event of Default.

Appears in 14 contracts

Samples: Convertible Note (Gold Lakes Corp.), Convertible Note (MMEX Resources Corp), Convertible Note (MyDx, Inc.)

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Payment of Principal. The "Maturity Date" shall be two years one year from the date of each payment of Consideration, as may be extended at the option of the Holder in the event that, and for so long as, an Event of Default (as defined below) shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) or any event shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) that with the passage of time and the failure to cure would result in an Event of Default.

Appears in 4 contracts

Samples: Convertible Note (AnythingIT, Inc.), Convertible Note (Hangover Joe's Holding Corp), Convertible Note (Co-Signer, Inc.)

Payment of Principal. The "Maturity Date" shall be two years one year from the date of each payment investment of Consideration, as may be extended at the option of the Holder in the event that, and for so long as, an Event of Default (as defined below) shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) or any event shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) that with the passage of time and the failure to cure would result in an Event of Default.

Appears in 3 contracts

Samples: Convertible Note (Force Protection Video Equipment Corp.), Convertible Note (Soul & Vibe Interactive Inc.), Convertible Note (Soul & Vibe Interactive Inc.)

Payment of Principal. The "Maturity Date" shall be two years from the date of each payment of Consideration, as may be extended at the option of the Holder in the event that, and for so long as, an Event of Default (as defined below) shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) or any event shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) that with the passage of time and the failure to cure would result in an Event of Default.

Appears in 2 contracts

Samples: Convertible Note (MMEX Resources Corp), Convertible Note (Saleen Automotive, Inc.)

Payment of Principal. The "Maturity Date" shall be two years from the date of each payment of Consideration, as may be extended at the option of the Holder in the event that, and for so long as, an Event of Default (as defined below) shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 11 ) or any event shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1I ) that with the passage of time and the failure to cure would result in an Event of Default.

Appears in 1 contract

Samples: Convertible Note (Las Vegas Railway Express, Inc.)

Payment of Principal. The "Maturity Date" shall be two years from the date of each payment of the Consideration, as may be extended at the option of the Holder in the event that, and for so long as, an Event of Default (as defined below) shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) or any event shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) that with the passage of time and the failure to cure would result in an Event of Default.

Appears in 1 contract

Samples: Convertible Note (Blue Water Global Group, Inc.)

Payment of Principal. The "Maturity Date" shall be two years one year from the date of each payment of Consideration, as may be extended at the option of the Holder in the event that, and for so long as, an Event of Default (as defined below) shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) or any event shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) that with the passage of time and the failure to cure would result in an Event of Default.

Appears in 1 contract

Samples: Convertible Note (Coates International LTD \De\)

Payment of Principal. The "Maturity Date" shall be two years 1 year from the date of each payment of Consideration, as may be extended at the option of the Holder in the event that, and for so long as, an Event of Default (as defined below) shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) or any event shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) that with the passage of time and the failure to cure would result in an Event of Default.

Appears in 1 contract

Samples: Convertible Note (Blue Water Global Group, Inc.)

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Payment of Principal. The "Maturity Date" shall be two years one year from the date of each payment of Considerationthe consideration, as may be extended at the option of the Holder in the event that, and for so long as, an Event of Default (as defined below) shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) or any event shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) that with the passage of time and the failure to cure would result in an Event of Default.

Appears in 1 contract

Samples: Convertible Note (SearchCore, Inc.)

Payment of Principal. The "Maturity Date" shall be two years one year from the date of each payment of Consideration, as may be extended at the option of the Holder in the event that, and for so long as, an Event of Default (as defined below) shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) or any event shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) that with the passage of time and the failure to cure would result in an Event of Default.

Appears in 1 contract

Samples: Convertible Note (Coates International LTD \De\)

Payment of Principal. The "Maturity Date" shall be two years one year from the date of each payment of Consideration, as may be extended at the option of the Holder in the event that, and for so long as, an Event of Default (as defined below) shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) or any event shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) that with the passage of time and the failure to cure would result in an Event of Default.

Appears in 1 contract

Samples: Convertible Note (Windstream Technologies, Inc.)

Payment of Principal. The "Maturity Date" shall be two years from the date of each payment of Consideration, as may be extended at the option of the Holder in the event that, and for so long as, an Event of Default (as defined below) shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) or any event shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1I) that with the passage of time and the failure to cure would result in an Event of Default.

Appears in 1 contract

Samples: Convertible Note (Rocky Mountain High Brands, Inc.)

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