Principal Installment Payments. Commencing on the date that is one hundred twenty (120) days from the Issuance Date, the Maker shall pay to the Holder the Outstanding Principal Amount hereunder in twenty (20) consecutive monthly installments, on such date and each one (1) month anniversary thereof (each, a “Payment Date” and collectively the “Monthly Payments”), an amount equal to the greater of (x) 5% of the Principal Amount or (y) $240,000, until the Outstanding Principal Amount has been paid in full prior to or on the Maturity Date or, if earlier, upon acceleration, conversion or redemption of this Note in accordance with the terms herein. The Monthly Payments shall, at the Maker’s option, be made in (i) cash, (ii) Repayment Shares, or (iii) a combination of cash and Repayment Shares; provided that the number of Repayment Shares shall be determined by dividing the Principal Amount being paid in shares of Common Stock by the Repayment Share Price; provided, however, that no portion of the Principal Amount may be paid in Repayment Shares unless such Repayment Shares (A) may be immediately resold under Rule 144 without restriction on the number of shares to be sold or manner of sale, or (B) are registered for resale under the 1933 Act and the registration statement is in effect and lawfully usable to effect immediate sales of such Repayment Shares. The Company must provide advance written notice to the Holder of whether it will elect to pay a Monthly Payment in cash, Repayment Shares or a combination thereof as follows: (i) with respect to the first Monthly Payment, at least ten (10) Business Days before the Payment Date, and (ii) with respect to each Monthly Payment thereafter, within three (3) Business Days of the prior Payment Date; provided, however, that if no such notice is provided within the timeframes set forth above, such Monthly Payments shall be made in Repayment Shares. Any Monthly Payment made in cash shall also include an additional payment in cash of five percent (5%) of such Monthly Payment which shall be in addition to any other amounts owing under this Note and which shall not be applied towards the Outstanding Principal Amount. Notwithstanding the foregoing, the Holder may elect with respect to no more than two of the Monthly Payments to increase the amount of such Monthly Payments up to seven hundred fifty thousand dollars ($750,000.00); provided that any such increased Monthly Payment is made in Repayment Shares and the requirement to deliver additional Repayment Sh...
Principal Installment Payments. (a) Commencing on the earlier of (i) the day that is 60 days from the Original Issuance Date and (ii) the date on which the Resale Registration Statement registering the Conversion Shares issuable under this Note and the Warrant Shares issuable under the Warrants issued at the First Tranche Closing (the “First Tranche Warrants”) shall have been declared effective by the SEC, the Maker shall pay to the Holder the Principal Amount hereunder in monthly installments, on such date and each one month anniversary thereof (each, a “Payment Date”), a payment equal to 105% of the total Principal Amount multiplied by the quotient determined by dividing one by the number of months remaining until the Maturity Date as of the initial Payment Date (the “Monthly Payments”), until the Principal Amount has been paid in full prior to or on the Maturity Date or, if earlier, upon acceleration, conversion or redemption of this Note in accordance with the terms herein. The Maker and the Holder agree that all payments made under this Note, including without limitation the provisions of Article 1, shall be subject in all cases to the terms of the Purchase Agreement, including, without limitation, Section 2.4
Principal Installment Payments. Commencing on the day that is the seven (7) month anniversary of the Issuance Date, the Maker shall pay to the Holder the outstanding Principal Amount hereunder in monthly installments (the “Monthly Payments”) on such date and each (1) month anniversary thereof, as more particularly set forth in Schedule 1 attached hereto (each, a “Payment Date”), until the Principal Amount has been paid in full prior to or on the Maturity Date or, if earlier, upon acceleration, conversion or redemption of this Note in accordance with the terms herein.
Principal Installment Payments. The Maker shall pay to the Holder in United States dollars and in immediately available funds the Outstanding Amount on the Maturity Date or, if earlier, upon acceleration, conversion or redemption of this Note in accordance with the terms herein (any date for payment hereunder, whether the Maturity Date or any other date for payment hereunder shall be hereinafter referred to as a “Payment Date”).
Principal Installment Payments. The Maker shall pay to the Holder in United States dollars and in immediately available funds: (i) Nine Hundred Eighteen Thousand Dollars ($918,000) on the day that is the one hundred eighty (180) day anniversary of the Issuance Date (the “First Repayment Date”); (ii) One Million Seventy-One Thousand Dollars ($1,071,000) on the day that is the two hundred seventy (270) day anniversary of the Issuance Date (the “Second Repayment Date” and, together with the First Repayment Date, each a “Payment Date”); and (iii) the remaining Outstanding Amount on the Maturity Date or, if earlier, upon acceleration, conversion or redemption of this Note in accordance with the terms herein.
Principal Installment Payments. Commencing on the date that is one year from the Issuance Date, the Maker shall pay to the Holder the Outstanding Principal Amount hereunder in twelve
Principal Installment Payments. Commencing on the day that is one hundred eighty (180) days after the Issuance Date, the Maker shall pay to the Holder the Outstanding Principal Amount hereunder in eighteen (18) monthly installments, on such date and each one (1) month anniversary thereof (each, a "Payment Date" and collectively the "Monthly Payments"), an amount equal to the Outstanding Principal Amount on such Payment Date divided by the number of Monthly Payments remaining, until the Outstanding Principal Amount has been paid in full prior to or on the Maturity Date or, if earlier, upon acceleration, conversion or redemption of this Note in accordance with the terms herein. The Monthly Payments shall be made in cash, in the amount of 102% of such Monthly Payment.
Principal Installment Payments. Commencing on the 90-day anniversary of the Original Issuance Date, the Maker shall pay to the Holder the Principal Amount hereunder in monthly installments, on such date and each one (1) month anniversary thereof (each, a “Payment Date”), a payment equal to 103% of the total Principal Amount multiplied by the quotient determined by dividing one by the number of months remaining until the Maturity Date as of the initial Payment Date (the “Monthly Payments”), until the Principal Amount has been paid in full prior to or on the Maturity Date or, if earlier, upon acceleration, conversion or redemption of this Note in accordance with the terms herein. The Maker and the Holder agree that all payments made under this Note, including without limitation the provisions of Article 1, shall be subject in all cases to the terms of the Purchase Agreement, including, without limitation, Section 2.4
Principal Installment Payments. Commencing on the day after the day that is the four (4) month anniversary of the Issuance Date, the Maker shall pay to the Holder the outstanding Principal Amount hereunder in monthly installments (the “Monthly Payments”) on such date and each (1) month anniversary thereof, as more particularly set forth in Schedule 1 attached hereto (each, a “Payment Date”), until the Principal Amount has been paid in full prior to or on the Maturity Date or, if earlier, upon acceleration, conversion or redemption of this Note in accordance with the terms herein.
Principal Installment Payments. Commencing on the day that is the four (4) month anniversary of the Issuance Date, the Maker shall pay to the Holder the Principal Amount hereunder in monthly installments, on such date and each one (1) month anniversary thereof (each, a “Payment Date”), a payment equal to one-fourteenth (1/14th) of the total Principal Amount (the “Monthly Payments”), until the Principal Amount has been paid in full prior to or on the Maturity Date or, if earlier, upon acceleration, conversion or redemption of this Note in accordance with the terms herein. The Maker and the Holder agree that all payments made under this Note, including the provisions of Section 1.3, shall be subject in all cases to the terms of the Purchase Agreement, including, without limitation, Section 2.4 thereof. The Monthly Payments shall be made in cash, in the amount of 102% of such Monthly Payment; provided, however, as to any Monthly Payment and upon no less than two (2) Trading Days’ prior written irrevocable notice (the “Monthly Payment Notice”), in lieu of a cash payment the Company may elect to pay all or part of a Monthly Payment in Conversion Shares based on a conversion price per share, subject to a floor of $1.20 per share (which floor price may be waived by the Company as expressly provided for herein, the “Floor Price”), equal to the lesser of (i) the then Conversion Price and (ii) 90% of the Market Price (subject to adjustment for any stock dividend, stock split, stock combination or other similar event affecting the Ordinary Shares during the ten (10) Trading Day measuring period described in the definition of “Market Price” herein) (the price calculated during the applicable ten (10) Trading Day measuring period described in the definition of “Market Price” herein, the “Monthly Conversion Price” and such 10 Trading Day period, the “Monthly Conversion Period”); provided, that the Company may not pay the Monthly Payment in Conversion Shares unless (i) from the date the Holder receives the duly delivered Monthly Payment Notice through and until the date such Monthly Payment is paid in full, the Equity Conditions have been satisfied, unless waived in writing by the Holder, and (ii) the Market Price shall have been equal to or in excess of the Floor Price during the Monthly Conversion Period, unless the Company exercise a right, in its discretion, to waive the Floor Price. For the avoidance of doubt if the Company determines to waive the foregoing requirement that the Market Price be equ...
