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.
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:
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. 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. 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 December 31, 2017 (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.
