Common use of Periodic Loans Clause in Contracts

Periodic Loans. During the term hereof, Lender hereby agrees to make periodic loans (collectively and individually, the "Loans") to the Borrower in an aggregate principal amount at any one time outstanding not to exceed TWO MILLION DOLLARS ($2,000,000) ("Maximum Amount"). Beginning on the date hereof and ending on the twelve month anniversary hereof, unless terminated earlier pursuant to the default provisions of this Agreement, from time to time Borrower may notify the Lender of its need to borrow funds pursuant to this Agreement. Within five business days of receipt of such notice from the Borrower seeking to borrow funds, the Lender shall forward such funds to the Borrower up to, but not in excess of, the Maximum Amount. All amounts lent hereunder shall be evidenced by ten percent (10%) convertible promissory notes in substantially the same form as attached hereto as Exhibit "A" (the "Notes"). Borrower shall deliver to Lender Notes in the principal amount of funds lent on each date that Lender provides funds to Borrower hereunder.

Periodic Loans. During the term hereof, Lender hereby agrees to make periodic loans (collectively and individually, the "Loans") to the Borrower in an aggregate principal amount at any one time outstanding not to exceed TWO MILLION FIFTY THOUSAND DOLLARS ($2,000,00050,000) ("Maximum Amount"). Beginning on the date hereof and ending on the twelve month anniversary hereof, unless terminated earlier pursuant to the default provisions of this Agreement, from time to time Borrower may notify the Lender of its need to borrow funds pursuant to this Agreement. Within five business days of receipt of such notice from the Borrower seeking to borrow funds, the Lender shall forward such funds to the Borrower up to, but not in excess of, the Maximum Amount. All amounts lent hereunder shall be evidenced by ten percent (10%) convertible promissory notes in substantially the same form as attached hereto as Exhibit "A" (the "Notes"). Borrower shall deliver to Lender Notes in the principal amount of funds lent on each date that Lender provides funds to Borrower hereunder.

Periodic Loans. During the term hereof, Lender hereby agrees to make periodic loans (collectively and individually, the "Loans") to the Borrower in an aggregate principal amount at any one time outstanding not to exceed TWO MILLION FIFTY THREE THOUSAND DOLLARS ($2,000,00053,000) ("Maximum Amount"). Beginning on the date hereof and ending on the twelve month anniversary hereof, unless terminated earlier pursuant to the default provisions of this Agreement, from time to time Borrower may notify the Lender of its need to borrow funds pursuant to this Agreement. Within five business days of receipt of such notice from the Borrower seeking to borrow funds, the Lender shall forward such funds to the Borrower up to, but not in excess of, the Maximum Amount. All amounts lent hereunder shall be evidenced by ten percent (10%) convertible promissory notes in substantially the same form as attached hereto as Exhibit "A" (the "Notes"). Borrower shall deliver to Lender Notes in the principal amount of funds lent on each date that Lender provides funds to Borrower hereunder.

Periodic Loans. During the term hereof, Lender hereby agrees to make periodic loans (collectively and individually, the "Loans") to the Borrower in an aggregate principal amount at any one time outstanding not to exceed TWO MILLION ONE HUNDRED THOUSAND DOLLARS ($2,000,000100,000) ("Maximum Amount"). Beginning on the date hereof November 1, 2001 and ending on the twelve month anniversary hereofApril 30, 2002, unless terminated earlier pursuant to the default provisions of this Agreement, from time to time Borrower may notify the Lender of its need to borrow funds pursuant to this Agreement. Within five business days of receipt of such notice from the Borrower seeking to borrow funds, the Lender shall forward such funds to the Borrower up to, but not in excess of, the Maximum Amount. All amounts lent hereunder shall be evidenced by ten percent (10%) convertible promissory notes in substantially the same form as attached hereto as Exhibit "A" (the "Notes"). Borrower shall deliver to Lender Notes in the principal amount of funds lent on each date that Lender provides funds to Borrower hereunder.

Periodic Loans. During the term hereof, Lender hereby agrees to make periodic loans (collectively and individually, the "Loans") to the Borrower in an aggregate principal amount at any one time outstanding not to exceed TWO MILLION HUNDRED FIFTY THOUSAND DOLLARS ($2,000,000250,000) ("Maximum Amount"). Beginning on the date hereof and ending on the twelve month anniversary hereofMay 6, 2002, unless terminated earlier pursuant to the default provisions of this Agreement, from time to time Borrower may notify the Lender of its need to borrow funds pursuant to this Agreement. Within five business days of receipt of such notice from the Borrower seeking to borrow funds, the Lender shall forward such funds to the Borrower up to, but not in excess of, the Maximum Amount. All amounts lent hereunder shall be evidenced by ten percent (10%) convertible a non-interest bearing promissory notes in substantially the same form as attached hereto as Exhibit "A" (the "Notes"). Borrower shall deliver to Lender Notes in the principal amount of funds lent on each date that Lender provides funds to Borrower hereunder.