Principal and Interest Repayment. The entire unpaid principal amount of this Note as well as all accrued and unpaid interest and all other sums due under this Note that remain unpaid shall be due and payable on or before [August 14, 2016].
Principal and Interest Repayment. 6.1 Party A shall repay the principal and interest in accordance with the amount and schedule as required under this contract. Party A authorizes Party B to deduct loans principal, interest, penalty interest, compound interest, liquidated damages and other costs stipulated in this contract (if applicable) from the accounts opened by Party A in sub-branches and branches of Xiamen International Bank Co., Ltd. without further instruction. Such amount may be original currency, or may be any converted currencies equivalent to the original currency.
6.2 If the balance of Party A’s repayment account is not sufficient to pay principal payable, interest and other costs (if applicable) hereunder, Party B may decide the priority sequence of each item to be deducted.
6.3 Advance Payment:
(1) When Party A repays all or part of the loans in advance, it shall obtain Party B’s prior written consent.
(2) When repaying in advance, Party A shall fully pay on the prepayment date all principal, interest and other amounts due and payable as of such prepayment date hereunder (if applicable).
6.4 (only applicable to working capital loans) Party A shall designate a special collection account and shall provide its cash flow information of such account for Party B in a timely manner.
6.5 (only applicable to packing finance) Party A shall repay each loan on schedule in accordance with the maturity date stipulated in each application form. The packing interest shall be paid together with its principal. Party B has the right to directly deduct collection or outward xxxx under each pledged letter of credit to repay corresponding packing finance.
6.6 (only applicable to outward bills) Party A shall repay each loan on schedule in accordance with the maturity date stipulated in each outward xxxx receipt. Party B has the right to directly deduct collection under each outward xxxx receipt to repay corresponding outward bills, whether its maturity or not. Outward xxxx interest shall be paid together with its principal.
6.7 (only applicable to discounting) Repayment of discounting principal and interest: discounting interest will be directly deducted by Party B at discount date. Upon discounting by Party B hereunder, Party B has obtained all bills right. When the bills of exchange are due, Party B will collect payment from acceptors. Whatever reason caused return of bills of exchange or Party B failing to collect payment due in accordance with amount and schedule, Party B may directly deduct t...
Principal and Interest Repayment. The entire outstanding Principal balance under this Note and accrued interest thereon shall be due on the Maturity Date.
Principal and Interest Repayment. The outstanding principal amount and all accrued interest of the Loan shall be subject to scheduled amortized repayments on the dates and in the amounts listed below; provided, however, that the original principal balance hereof and such repayment schedule is subject to adjustment: (i) based upon a final count of the actual quantity of tangible assets transferred and sold to Borrower pursuant to Section 2.3 of that certain License and Development Agreement dated as of even date herewith between Lender and Borrower (the "LICENSE AND DEVELOPMENT AGREEMENT), with any such adjustment to be calculated based on the mean of the "Item Value" set forth on Exhibit B hereto for the actual quantity so transferred and sold; or (ii) based upon payment of proceeds from the resale of such tangible assets pursuant to Section 3.1 of the License and Development Agreement. Any such adjusted repayment schedule shall be set forth in a writing executed by both parties and attached hereto as Schedule 1. REPAYMENT DATE REPAYMENT AMOUNT ---------------------------------------- ---------------------- July 1, 2002 $9,173.36 August 1, 2002 $9,173.36 September 1, 2002 $9,173.36 October 1, 2002 $9,173.36 November 1, 2002 $9,173.36 December 1, 2002 $9,173.36 January 1, 2003 $9,173.36 February 1, 2003 $9,173.36 March 1, 2003 $9,173.36 April 1, 2003 $9,173.36 May 1, 2003 $9,173.36 June 1, 2003 $9,173.36
Principal and Interest Repayment. Subject to Section 2, the outstanding principal balance of the Notes, together with all accrued and unpaid interest thereon, shall be payable in full on the earlier to occur of (i) August 16, 2013 [18 months from date of issuance] (the “Maturity Date”), (ii) the occurrence of an Event of Default (defined herein), or (iii) the occurrence of a Change of Control (defined herein) (collectively, the “Due Date”); provided that the Company shall extend the Maturity Date with the written consent of at least the holders of a majority of the principal amount of the Notes then outstanding (the “Majority Holders”). If the Company elects to pay the all or a portion of the accrued interest in shares of Common Stock, the number of shares of Common Stock of the Company to be issued to the Lenders shall be determined by dividing (i) the unpaid accrued interest on the Notes being converted by (ii) the Per Share Market Price (defined herein) on the Trading Day immediately prior to the Due Date; provided the Per Share Market Price shall not be less than $0.01 per share; provided further that the Company shall not elect to pay any of the accrued interest in shares of Common Stock if the Per Share Market Price on the Trading Day immediately prior to the Due Date is less than or equal to $0.005 per share.
Principal and Interest Repayment. 6.1 The interest of the loan under the Contract is divided into two parts for repayment, namely the first loan interest and the second loan interest:
6.1.1 The first loan interest should be paid before December 25, 2016, and the payable interest of each first loan should be calculated as the amount of the trust loan issued thereby for current period x 1%. Particularly, where Party B repays the loan as agreed in the Contract or Party A, according to the Contract, requests Party B to repay part or all of the trust loan principals, the loan interest concerned should not be returned.
6.1.2 The second loan interest should be calculated on each interest expiry date, and the interest expiry date should be: (1) the [25th] day of the last month of each natural quarter within the loan term; (2) the date when Party B repays part or all of the loan principals as agreed in the Contract; (3) the loan expiry date. The payment date should be the interest expiry date, and if the interest expiry date is a non-working day, the payment date should be the recent working day before the interest expiry date.
6.1.3 The payable interest of each second loan = the amount of trust loan principal x actual days of current accounting period x [7.5%]/360. In order to avoid doubt, the loan interest paid by Party B on each payment day should be the sum of the second payable loan interests for current period. Within the above accounting period, in case the loan principal balance is changed, the corresponding loan interest should be calculated by installment. The actual days of current accounting period should be the days between the last interest expiry date and the current interest expiry date. Specially, the actual days of the first accounting period should be the days between the loan issuance date of each loan to the last interest expiry date after the loan issuance date of each loan, and the actual days of the last accounting period should be the days between the recent interest expiry date before the expiry date of the corresponding loan and the expiry date of the corresponding loan.
6.1.4 In case a certain trust loan under the Contract is prepaid, the sum of the first loan interest and the second loan interest actually paid by Party B should be equal to the amount calculated according to the actual existence days x 8%/360, namely: the first loan interest + the second loan interest of the loan = the trust loan principal balance x actual loan existence days x 8%/360.
6.2 Unless otherwi...
Principal and Interest Repayment. The principal amount of this Note and accrued interest thereon, if any, shall be due and payable upon the earlier of (i) December 31, 2005 and (ii) the occurrence of an Event of Default (as defined herein).
Principal and Interest Repayment. On the Termination Date, the outstanding principal amount of the Loan and all interest on the Loan, shall be finally due and payable in full.
Principal and Interest Repayment. On each Payment Date, the Borrower shall repay to the Lender in accordance with the methods set forth in Section 5.01, an amount of the unpaid principal of and interest on the Loan as set forth in the amortization schedule attached hereto as Exhibit A; provided that, notwithstanding anything in this Agreement to the contrary, the entire amount of principal and all accrued interest and other amounts owing from Borrower to Lender under this Agreement will be payable in full on the Maturity Date.
Principal and Interest Repayment. Subject to Section 2, the outstanding principal balance of the Note, together with all accrued and unpaid interest thereon, shall be payable in full on the earlier to occur of (i) March 18, 2014, 18 months from the Effective Date (the “Maturity Date”), (ii) the occurrence of an Event of Default (defined herein), or (iii) the occurrence of a Change of Control (defined herein) (collectively, the “Due Date”); provided that the Company shall extend the Maturity Date with the written consent of the Lender. Subject to Section 1.3, if the Company elects to pay all or a portion of the accrued interest in shares of Common Stock, the number of shares of Common Stock of the Company to be issued to the Lender shall be determined by dividing (i) the unpaid accrued interest on the Note being converted by (ii) the Per Share Market Price (defined herein) on the Trading Day immediately prior to the Due Date; provided the Per Share Market Price shall not be less than $0.065 per share. The Company agrees to prepay a portion of the principal and accrued and unpaid interest thereon on a monthly basis depending on the EBITDA generated by the assets acquired from Digipath pursuant to the Equity Purchase Agreement in accordance with the following formula: If such EBITDA is $50,000 or lower, 35% of such EBITDA will be applied to the prepayment of the principal and accrued interest; if such EBITDA is greater than $50,000, 50% of such EBITDA will be applied to the prepayment of the principal and accrued interest. The prepayment will be made thirty (30) days after the monthly EBITDA is calculated. With respect to the Company’s calculation of EBITDA for purposes of this Section, the Company hereby agrees that the operating expenses used therein shall be commensurate with the business generated by the assets acquired from Digipath pursuant to the Equity Purchase Agreement.
