Common use of Principal Installment Payments Clause in Contracts

Principal Installment Payments. Commencing on the first Payment Date and on each Payment Date thereafter, the Maker shall pay to the Holder the outstanding Principal Amount hereunder in monthly installments of Three Hundred Twenty Two Thousand Two Hundred Twenty Two Dollars ($322,222) (the “Monthly Payments”), subject to Section 3.1 (a) of this Agreement, 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 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 plus accrued interest (if any) being paid in shares of Common Stock at the Repayment Share Price. 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 thirty (30) 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 cash.

Principal Installment Payments. Commencing on the first Payment Date and on each Payment Date thereafterday that is the six (6) month anniversary of the Issuance Date, the Maker shall pay to the Holder the outstanding Principal Amount hereunder in monthly installments installments, on such date and each one (1) month anniversary thereof, as more particularly set forth in Schedule 1 attached hereto (each, a “Payment Date”), of Three Forty-Five Thousand Eight Hundred Twenty Two Thousand Two Hundred Twenty Two Thirty-three and 33/100 Dollars ($322,22245,833.33) (the “Monthly Payments”), subject to Section 3.1 (a) of this Agreement, 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 Monthly Payments shall, at the Maker’s option, be made in (i) cash 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 plus accrued interest (if any) being paid in shares of Common Stock at the Repayment Share Price. 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 thirty (30) 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 portion of the Principal Amount may be paid in Repayment Shares unless (A) such notice is provided within Repayment Shares may be immediately resold under Rule 144 without restriction on the timeframes set forth abovenumber of shares to be sold or manner of sale, such or (B) registered for resale under the 1933 Act. The Monthly Payments shall may be increased at the Maker’s sole discretion if made in cash, or upon mutual consent of the Maker and the Holder if made by the issuance of the Repayment Shares.

Principal Installment Payments. Commencing on the first Payment Date and on each Payment Date thereafterday that is the six (6) month anniversary of the Issuance Date, the Maker shall pay to the Holder the outstanding Principal Amount hereunder in monthly installments installments, on such date and each one (1) month anniversary thereof, as more particularly set forth in Schedule 1 attached hereto (each, a “Payment Date”), of Seventy-Six Thousand Three Hundred Twenty Two Thousand Two Hundred Twenty Two Eighty-Eight and 89/100 Dollars ($322,22276,388.89) (the “Monthly Payments”), subject to Section 3.1 (a) of this Agreement, 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 Monthly Payments shall, at the Maker’s option, be made in (i) cash 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 plus accrued interest (if any) being paid in shares of Common Stock at the Repayment Share Price. 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 thirty (30) 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 portion of the Principal Amount may be paid in Repayment Shares unless (A) such notice is provided within Repayment Shares may be immediately resold under Rule 144 without restriction on the timeframes set forth abovenumber of shares to be sold or manner of sale, such or (B) registered for resale under the 1933 Act. The Monthly Payments shall may be increased at the Maker’s sole discretion if made in cash, or upon mutual consent of the Maker and the Holder if made by the issuance of the Repayment Shares.

Principal Installment Payments. Commencing on the first Payment Date and on each Payment Date thereafterday that is the six (6) month anniversary of the Original Issuance Date, the Maker shall pay to the Holder the outstanding Principal Amount hereunder in monthly installments installments, on such date and each one (1) month anniversary thereof, as more particularly set forth in Schedule 1 attached hereto (each, a “Payment Date”), of Seventy-Six Thousand Three Hundred Twenty Two Thousand Two Hundred Twenty Two Eighty-Eight and 89/100 Dollars ($322,22276,388.89) (the “Monthly Payments”), subject to Section 3.1 (a) of this Agreement, 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 Monthly Payments shall, at the Maker’s option, be made in (i) cash 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 plus accrued interest (if any) being paid in shares of Common Stock at the Repayment Share Price. 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 thirty (30) 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 portion of the Principal Amount may be paid in Repayment Shares unless (A) such notice is provided within Repayment Shares may be immediately resold under Rule 144 without restriction on the timeframes set forth abovenumber of shares to be sold or manner of sale, such or (B) registered for resale under the 1933 Act. The Monthly Payments shall may be increased at the Maker’s sole discretion if made in cash, or upon mutual consent of the Maker and the Holder if made by the issuance of the Repayment Shares.

Principal Installment Payments. Commencing on the first Payment Date and on each Payment Date thereafterday that is the six (6) month anniversary of the Issuance Date, the Maker shall pay to the Holder the outstanding Principal Amount hereunder in monthly installments installments, on such date and each one (1) month anniversary thereof, as more particularly set forth in Schedule 1 attached hereto (each, a “Payment Date”), of Three Hundred Twenty Two Thousand Two Hundred Twenty Two Forty-Four Thousand Four Hundred Forty-Four and 44/100 Dollars ($322,222244,444.44) (the “Monthly Payments”), subject to Section 3.1 (a) of this Agreement, 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 Monthly Payments shall, at the Maker’s option, be made in (i) cash 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 plus accrued interest (if any) being paid in shares of Common Stock at the Repayment Share Price. 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 thirty (30) 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 portion of the Principal Amount may be paid in Repayment Shares unless (A) such notice is provided within Repayment Shares may be immediately resold under Rule 144 without restriction on the timeframes set forth abovenumber of shares to be sold or manner of sale, such or (B) registered for resale under the 1933 Act. The Monthly Payments shall may be increased at the Maker’s sole discretion if made in cash, or upon mutual consent of the Maker and the Holder if made by the issuance of the Repayment Shares.

Principal Installment Payments. Commencing Subject to any mandatory prepayment required pursuant to Section 1.3(c)(ii) below, commencing on the first Payment Date and on each Payment Date thereafterday that is the two (2) month anniversary of the Issuance Date, the Maker shall pay to the Holder the outstanding Principal Amount hereunder in monthly installments installments, on such date and each one (1) month anniversary thereof, as more particularly set forth in Schedule 1 attached hereto (each, a “Payment Date”), of Three Hundred Twenty Two Thousand Two Hundred Twenty Two One Million Dollars ($322,2221,000,000) (the “Monthly Payments”), subject to Section 3.1 (a) of this Agreement, 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 Monthly Payments shall, at the Maker’s option, be made in (i) cash cash, (ii) Repayment Shares, or (iii) a combination of cash and Repayment Shares; provided that the Maker shall provide the Holder with advance written notice twenty (20) Business Days prior to any Payment Date of its intention to satisfy all or any portion of its Monthly Payment in Repayment Shares, and if the Maker fails to provide any such notice in such timeframe, the Monthly Payment for that Payment Date shall be made in cash; provided further that the number of Repayment Shares shall be determined by dividing the Principal Amount plus accrued interest (if any) being paid in shares of Common Stock at the Repayment Share Price. 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 thirty (30) 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 portion of the Principal Amount may be paid in Repayment Shares unless (A) such notice is provided within Repayment Shares may be immediately resold under Rule 144 without restriction on the timeframes set forth abovenumber of shares to be sold or manner of sale, such or (B) registered for resale under the 1933 Act. The Monthly Payments shall may be increased at the Maker’s sole discretion if made in cash, or upon mutual consent of the Maker and the Holder if made by the issuance of the Repayment Shares.

Principal Installment Payments. Commencing on the first Payment Date and on each Payment Date thereafter, the Maker shall pay to the Holder the outstanding Principal Amount hereunder in monthly installments installments, of Three Six Hundred Twenty Two Eleven Thousand Two One Hundred Twenty Two Eleven Dollars ($322,222611,111) (the “Monthly Payments”), subject to Section 3.1 (a) of this Agreement, 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 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 plus accrued interest (if any) being paid in shares of Common Stock at the Repayment Share Price. 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 thirty (30) 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 cash.