Common use of Payment to Lender Clause in Contracts

Payment to Lender. Borrower will pay to the Lender on the Maturity Date, or the Acceleration Date, whichever shall first occur, the principal amount, together with accrued interest not later than 12 noon, Denver, Colorado time in lawful money of the United States of America in immediately available funds. Any payment received after that time will be deemed to have been made on the next following business day. Should the payment become due and payable on a day other than a business day, the maturity of that payment shall be extended to the next succeeding business day, and in the case of a payment of principal, interest shall accrue and be payable for the period of such extension. At the Lender's election, which may be exercised by its giving written notice to the Borrower not less than ten (10) business days prior to the Maturity Date or the Acceleration Date, whichever is applicable, the Lender may request the Borrower to issue to the Lender common stock of the Borrower in lieu of payment of the amounts outstanding under the Note, the number of common shares to be issued to be determined by dividing $.80 into the amount outstanding under the Note. The Borrower agrees, at its sole expense, that it will upon the Lender's written request use its reasonable best efforts to register the sale of such shares with the United States Securities and Exchange Commission, in accordance with the provisions of Exhibit F attached hereto. In connection therewith, the Borrower shall have obtained all authorizations and approvals of, and all other actions required to be taken by, any applicable governmental authority or regulatory body or stock exchange and shall have given all notices to, and made all filings with, any such governmental authority or regulatory body or stock exchange, that may be required in connection with such issuance and registration of the Borrower's common stock. The Borrower may elect not to issue the stock if it timely pays to Lender in immediately available funds the full amount of principal and interest owed under the Note. Upon the issuance of the stock, the amount due under the Loan shall be deemed no longer due and payable, and this Agreement shall be deemed terminated and the Note deemed canceled.

Payment to Lender. Borrower will pay to the Lender on the Maturity Date, or the Acceleration Date, whichever shall first occur, the principal amount, together with accrued interest not later than 12 noon, Denver, Colorado time in lawful money of the United States of America in immediately available funds. Any payment received after that time will be deemed to have been made on the next following business day. Should the payment become due and payable on a day other than a business day, the maturity of that payment shall be extended to the next succeeding business day, and in the case of a payment of principal, interest shall accrue and be payable for the period of such extension. At the Lender's election, which may be exercised by its giving written notice to the Borrower not less than ten (10) business days prior to the Maturity Date or the Acceleration Date, whichever is applicable, the Lender may request the Borrower to issue to the Lender common stock of the Borrower in lieu of payment of the amounts outstanding under the Note, the number of common shares to be issued to be determined by dividing $.80 into the amount outstanding under the Note. The Borrower agrees, at its sole expense, that it will upon the Lender's written request use its reasonable best efforts to register the sale of such shares with the United States Securities and Exchange Commission, in accordance with the provisions of Exhibit F attached hereto. In connection therewith, the Borrower shall have obtained all authorizations and approvals of, and all other actions required to be taken by, any applicable governmental authority or regulatory body or stock exchange and shall have given all notices to, and made all filings with, any such -6- governmental authority or regulatory body or stock exchange, that may be required in connection with such issuance and registration of the Borrower's common stock. The Borrower may elect not to issue the stock if it timely pays to Lender in immediately available funds the full amount of principal and interest owed under the Note. Upon the issuance of the stock, the amount due under the Loan shall be deemed no longer due and payable, and this Agreement shall be deemed terminated and the Note deemed canceled.

Payment to Lender. (a) The Borrower will shall pay to the Lender the Principal Amount of and any accrued and unpaid interest on the Maturity Note in full on January [ ], 2027 (the “Interest Rate Reset Date”); provided however, if on the Interest Rate Reset Date the following statements shall be true and correct and the Lender shall have received a certificate incorporating by reference the definitions of the capitalized terms defined in this Agreement, signed by the Director and dated the Interest Rate Reset Date, stating that (i) the representations and warranties 3 NTD: Do we want to just attach a form of the AG’s opinion? of the Borrower contained herein and in each of the other Related Documents are true and correct on and as of the Interest Rate Reset Date as though made on and as of such date, (ii) no Default or Event of Default has occurred and is continuing as of the Acceleration Interest Rate Reset Date, whichever shall first occurand (iii) no Event of Non-Allocation has occurred, commencing on the Interest Rate Reset Date, the principal amountNote shall bear interest at the Bank Rate and be subject to amortization as set forth in Section 3.01(b) below. (b) If the conditions set forth in Section 3.01(a) are satisfied on the Interest Rate Reset Date, together with accrued interest not upon the Borrower’s written request delivered to the Lender in the form of Exhibit G attached hereto no later than 12 noonthirty (30) days prior to the Interest Rate Reset Date, Denver, Colorado time in lawful money the outstanding principal amount of the United States Note shall be paid in substantially equal installments payable on each Amortization Payment Date, beginning on June 15, 2027 (each such payment, an “Amortization Payment”), with the final installment in an amount equal to the entire then-outstanding principal amount of America the Note to be paid in immediately available funds. Any payment received after that time will be deemed to have been made full on the next following business dayFinal Maturity Date (the period commencing on the Interest Rate Reset Date and ending on the Final Maturity Date is herein referred to as the “Amortization Period”). Should Notwithstanding the payment become due foregoing and payable on a day other than a business daypursuant to the terms of Section 7.02 hereof, upon an Event of Default, the maturity Lender may cause an acceleration of that payment shall be extended to the next succeeding business day, and in the case of Note by delivering a payment of principal, interest shall accrue and be payable for the period of such extension. At the Lender's election, which may be exercised by its giving written notice to the Borrower not less than ten (10) business days prior to the Maturity Date or the Acceleration Date, whichever that an Event of Default has occurred and is applicable, the Lender may request continuing and instructing the Borrower to issue to the Lender common stock of the Borrower in lieu of payment of the amounts outstanding under the Note, the number of common shares to be issued to be determined by dividing $.80 into the amount outstanding under the Note. The Borrower agrees, at its sole expense, that it will upon the Lender's written request use its reasonable best efforts to register the sale of such shares with the United States Securities and Exchange Commission, in accordance with the provisions of Exhibit F attached hereto. In connection therewith, the Borrower shall have obtained all authorizations and approvals of, and all other actions required to be taken by, any applicable governmental authority or regulatory body or stock exchange and shall have given all notices to, and made all filings with, any such governmental authority or regulatory body or stock exchange, that may be required in connection with such issuance and registration of the Borrower's common stock. The Borrower may elect not to issue the stock if it timely pays to Lender in immediately available funds the full amount of principal and interest owed under the Note. Upon the issuance of the stock, the amount due under the Loan shall be deemed no longer due and payable, and this Agreement shall be deemed terminated and the Note deemed canceledis subject to acceleration.

Payment to Lender. Borrower will pay to the Lender on the Maturity Date, or the Acceleration Date, whichever shall first occur, the principal amount, together with accrued interest not later than 12 noon, Denver, Colorado time in lawful money of the United States of America in immediately available funds. Any payment received after that time will be deemed to have been made on the next following business day. Should the payment become due and payable on a day other than a business day, the maturity of that payment shall be extended to the next succeeding business day, and in the case of a payment of principal, interest shall accrue and be payable for the period of such extension. At the Lender's Lenders election, which may be exercised by its giving written notice to the Borrower not less than ten (10) business days prior to the Maturity Date or the Acceleration Date, whichever is applicable, the Lender may request the Borrower to issue to the Lender common stock of the Borrower in lieu of payment of the amounts outstanding under the Note, the number of common shares to be issued to be determined by dividing $.80 into the amount outstanding under the Note. The Borrower agrees, at its sole expense, that it will upon the Lender's Lenders written request use its reasonable best efforts to register the sale of such shares with the United States Securities and Exchange Commission, in accordance with the provisions of Exhibit F attached hereto. In connection therewith, the Borrower shall have obtained all authorizations and approvals of, and all other actions required to be taken by, any applicable governmental authority or regulatory body or stock exchange and shall have given all notices to, and made all filings with, any such governmental authority or regulatory body or stock exchange, that may be required in connection with such issuance and registration of the Borrower's Borrowers common stock. The Borrower may elect not to issue the stock if it timely pays to Lender in immediately available funds the full amount of principal and interest owed under the Note. Upon the issuance of the stock, the amount due under the Loan shall be deemed no longer due and payable, and this Agreement shall be deemed terminated and the Note deemed canceled.