Common use of Prepayment and redemption of the Loan Clause in Contracts

Prepayment and redemption of the Loan. Subject at all times to the Lender's Right of Election for Conversion as set forth in section "3.6" hereinbelow, the Borrower may prepay and redeem any portion of the Principal Sum portion of the Loan in whole or in part at any time prior to the Final Principal Sum Payment Date (the "Right of Redemption") and in the manner as set forth immediately hereinbelow by providing the Lender with no less than 30 calendar days' prior written notice (the "Redemption Notice") of its Right of Redemption intention to redeem and repay all or any portion of the Principal Sum and any Interest which would have accrued thereon to the end of the respective Final Principal Sum Payment Date in respect of such Principal Sum to be repaid (collectively, the "Redemption Amount") (such day at the end of such 30-day period being the "Redemption Date"). In order to provide such Redemption Notice the Borrower will be required, at the date of its delivery to the Lender of the Redemption Notice, to provide to the Lender's solicitors, or to such other mutually agreeable holder (the "Escrow Holder"), a certified cheque or bank draft representing the entire Redemption Amount and made payable to the Lender in funds of the United States, or funds by way of wire transfer to such designation as may be directed by the Lender in its sole and absolute discretion, in the amount of any such Redemption Amount. Thereupon, and should the proposed Redemption Amount in fact represent all of the Principal Sum and any Interest accrued thereon which would be due and owing by the Borrower to the Lender under this Agreement to the end of each Final Principal Sum Payment Date, then the Lender will be required to provide to the Escrow Holder, and as soon as reasonably possible after its receipt of the Redemption Notice, all such registerable discharges as may be necessary to relieve the Borrower of any obligation to the Lender under each of this Agreement and each and every other Security instrument already provided by the Borrower to the Lender under the terms and conditions of this Agreement (collectively, the "Discharges"). On the second business day subsequent to the Redemption Date the Escrow Holder, if applicable, shall deliver to the Lender the Redemption Amount and, only if also applicable, to the Borrower the Discharges, and, unless otherwise directed in writing by the Parties prior thereto, to the Parties' respective addresses for notice and delivery as set forth on the front page of this Agreement.

Prepayment and redemption of the Loan. Subject at all times to the Lender's Right of Election for Conversion as set forth in section "3.6" hereinbelow, the The Borrower may prepay and redeem any portion of the Principal Sum portion of the Loan in whole or in part at any time prior to the Final Principal Sum Payment Date (the "“Right of Redemption"”) and in the manner as set forth immediately hereinbelow by providing the Lender with no less than 30 calendar days' ’ prior written notice (the "“Redemption Notice"”) of its Right of Redemption intention to redeem and repay all or any portion of the Principal Sum and any Interest which would have accrued thereon to the end of the respective Final Principal Sum Payment Date in respect of such Principal Sum to be repaid (collectively, the "“Redemption Amount"”) (such day at the end of such 30-day period being the "“Redemption Date"”). In order to provide such Redemption Notice the Borrower will be required, at the date of its delivery to the Lender of the Redemption Notice, to provide to the Lender's ’s solicitors, or to such other mutually agreeable holder (the "“Escrow Holder"”), a certified cheque or bank draft representing the entire Redemption Amount and made payable to the Lender in funds of the United States, or funds by way of wire transfer to such designation as may be directed by the Lender in its sole and absolute discretion, in the amount of any such Redemption Amount. Thereupon, and should the proposed Redemption Amount in fact represent all of the Principal Sum and any Interest accrued thereon which would be due and owing by the Borrower to the Lender under this Agreement to the end of each Final Principal Sum Payment Date, then the Lender will be required to provide to the Escrow Holder, and as soon as reasonably possible after its receipt of the Redemption Notice, all such registerable discharges as may be necessary to relieve the Borrower of any obligation to the Lender under each of this Agreement and each and every other Security instrument already provided by the Borrower to the Lender under the terms and conditions of this Agreement (collectively, the "“Discharges"”). On the second business day subsequent to the Redemption Date the Escrow Holder, if applicable, shall deliver to the Lender the Redemption Amount and, only if also applicable, to the Borrower the Discharges, and, unless otherwise directed in writing by the Parties prior thereto, to the Parties' ’ respective addresses for notice and delivery as set forth on the front page of this Agreement.

Prepayment and redemption of the Loan. Subject at all times to It is hereby acknowledged and agreed by the Lender's Right of Election for Conversion as set forth Parties hereto that, in accordance with section "3.63.5" hereinbelowof the proposed Loan Agreement, the Borrower Company may prepay and redeem any portion of the Principal Sum portion of the Loan in whole or in part at any time prior to the Final Principal Sum Payment Date (herein and therein the "Right of RedemptionRIGHT OF REDEMPTION") and in the manner as set forth immediately hereinbelow by providing the Lender Purchaser with no not less than 30 calendar days' prior written notice (herein and therein the "Redemption NoticeREDEMPTION NOTICE") of its Right of Redemption intention to redeem and repay all or any portion of the Principal Sum and any Interest accrued thereon which would have accrued thereon be due and owing by the Company to the Purchaser at the end of the respective Final Principal Sum Payment Date in respect of such Principal Sum to be repaid 30-day period (herein and therein, collectively, the "Redemption AmountREDEMPTION AMOUNT") (such day at the end of such 30-day period being the "REDEMPTION DATE" and, for clarity, such Redemption Date would be the date to which such Principal Sum and Interest would be calculated and due and payable to the Purchaser at the close of business, in Vancouver, British Columbia, on such Redemption Date"). In order to provide such Redemption Notice it is hereby also acknowledged and agreed that the Borrower Company will be required, at the date of its delivery to the Lender Purchaser of the Redemption Notice, to provide to the LenderPurchaser's solicitors, or to such other mutually agreeable holder (herein and therein the "Escrow HolderESCROW HOLDER"), a certified cheque or bank draft representing the entire Redemption Amount and made payable to the Lender Purchaser in funds of the United StatesStates of America, or funds by way of wire transfer to such designation as may be directed by the Lender Purchaser in its sole and absolute discretion, in the amount of any such Redemption Amount. Thereupon, and should the proposed Redemption Amount in fact represent all of the Principal Sum and any Interest accrued thereon which would be due and owing by the Borrower Company to the Lender Purchaser under this the proposed Loan Agreement to at the end of each Final Principal Sum Payment Redemption Date, then the Lender Purchaser will be required to provide to the Escrow Holder, and as soon as reasonably possible after its receipt of the Redemption Notice, all such registerable discharges as may be necessary to relieve the Borrower Company of any obligation to the Lender Purchaser under each of this the proposed Loan Agreement and each and every other Security instrument already provided by the Borrower Company to the Lender Purchaser under the terms and conditions of this the proposed Loan Agreement (herein and therein, collectively, the "DischargesDISCHARGES"). On In this regard, and on the second business day subsequent to the Redemption Date Date, the Escrow Holder, if applicable, shall deliver to the Lender Purchaser the Redemption Amount and, only if also applicable, to the Borrower Company the Discharges, and, unless otherwise directed in writing by each of the Parties prior theretoPurchaser and the Company, to the Parties' Purchaser's and the Company's respective addresses for notice and delivery as set forth on the front page of the proposed Loan Agreement. Notwithstanding the Company's prior exercise of its Right of Redemption and/or the Purchaser's prior exercise of its Right of Election as provided for in the proposed Loan Agreement and as set forth herein, and notwithstanding the prior repayment to the Purchaser by the Company of all or any portion of the entire Redemption Amount and/or the prior conversion by the Purchaser of all or any portion of the entire Outstanding Indebtedness (as hereinafter determined) for any Equity Interest (as hereinafter determined) as also provided for in the proposed Loan Agreement and as set forth herein, no such action or actions will, in any manner, and unless this Agreement is otherwise terminated for any reason whatsoever prior to the Closing thereof, affect the within obligation of each of the Vendors, the Company and the Purchaser to complete the proposed purchase and sale of the Purchased Shares as contemplated by the terms and conditions of this Agreement.

Prepayment and redemption of the Loan. Subject at all times to the Lender's Right of Election for Conversion as set forth in section "3.6" hereinbelow, the The Borrower may prepay and redeem any portion of the Principal Sum portion of the Loan in whole or in part at any time prior to the Final Principal Sum Payment Date (the "“Right of Redemption"”) and in the manner as set forth immediately hereinbelow by providing the each Lender with no not less than 30 five calendar days' ’ prior written notice (the "“Redemption Notice"”) of its Right of Redemption intention to redeem and repay all or any portion of the Principal Sum and any Interest accrued thereon which would have accrued thereon be due and owing by the Borrower to the Lender at the end of the respective Final Principal Sum Payment Date in respect of such Principal Sum to be repaid five-day period (collectively, the "“Redemption Amount"”) (such day at the end of such 30five-day period being the "“Redemption Date"” and, for clarity, such Redemption Date would be the date to which such Principal Sum and Interest would be calculated and due and payable to the Lender at the close of business, in Vancouver, British Columbia, Canada, on such Redemption Date). In the event that the Borrower partially prepays and redeems outstanding Loans, the Borrower shall partially prepay and redeem each outstanding Loan on a pro-rata basis according to the size of each Loan in comparison to the size of all the Loans. In order to provide such Redemption Notice Notice, the Borrower will be required, at the date of its delivery to the Lender Lenders of the Redemption Notice, to provide to the Lender's solicitorsLenders’ counsel, or to such other mutually agreeable holder (the "“Escrow Holder"”), a certified cheque or bank draft representing the entire Redemption Amount and made payable to the Lender Lenders in funds of the United States, or funds by way of wire transfer to such designation as may be directed by the Lender Lenders in its their sole and absolute discretion, in the amount of any such Redemption Amount. Thereupon, and should the proposed Redemption Amount in fact represent all of the Principal Sum and any Interest accrued thereon which would be due and owing by the Borrower to the Lender Lenders under this Agreement to at the end of each Final Principal Sum Payment Redemption Date, then the Lender Lenders will be required to provide to the Escrow Holder, and as soon as reasonably possible after its receipt of the Redemption Notice, all such registerable discharges as may be necessary to relieve the Borrower of any obligation to the Lender Lenders under each of this Agreement and each and every other Security instrument already provided by the Borrower to the Lender under the terms and conditions of this Agreement (collectively, the "“Discharges"”). On the second business day subsequent to the Redemption Date the Escrow Holder, if applicable, shall deliver to the Lender Lenders the Redemption Amount and, only if also applicable, to the Borrower the Discharges, and, unless otherwise directed in writing by the Parties prior thereto, to the Parties' ’ respective addresses for notice and delivery as set forth on the front page of this Agreement.