Common use of Redemption Payments Clause in Contracts

Redemption Payments. For each Debenture or portion thereof which is to be redeemed hereunder, the Company shall be obligated on the applicable Redemption Date to pay to the Holder thereof (upon surrender by such Holder at the Company's principal office of the Debenture) the Redemption Price in cash or in immediately available funds. If the Company does not make the payment when due, interest will accrue on all outstanding Debentures from and after the Redemption Date at the Default Rate, the Conversion Price calculated pursuant to Section 4 in connection with any subsequent conversion of this Debenture will be reduced to $1.50 per share, and this Debenture shall be immediately convertible notwithstanding any other restrictions on conversion.

Redemption Payments. For each Debenture or portion thereof which is to be redeemed hereunder, the Company shall be obligated on the applicable Redemption Date to pay to the Holder thereof (upon surrender by such Holder at the Company's principal office of the Debenture) the Redemption Price in cash or in immediately available fundsfuns. If the Company does not make the payment when due, interest will accrue on all outstanding Debentures from and after the Redemption Date at the Default Rate, the Conversion Price calculated pursuant to Section 4 in connection with any subsequent conversion of this Debenture will be reduced to $1.50 0.014 per share, and this Debenture shall be immediately convertible notwithstanding any other restrictions on conversion.

Redemption Payments. For each Debenture or portion thereof which is to be redeemed hereunder, the Company shall be obligated on the applicable Redemption Date to pay to the Holder thereof (upon surrender by such Holder at the Company's principal office of the Debenture) the Redemption Price in cash or in immediately available funds. If the Company does not make the payment when due, interest will accrue on all outstanding Debentures from and after the Redemption Date at the Default Rate, the Conversion Price calculated pursuant to Section 4 in connection with any subsequent conversion of this Debenture will be reduced to $1.50 0.375 per share, and this Debenture shall be immediately convertible notwithstanding any other restrictions on conversion.

Redemption Payments. For each Debenture or portion thereof which is to be redeemed hereunder, the Company shall be obligated on the applicable Redemption Date to pay to the Holder thereof (upon surrender by such Holder at the Company's principal office of the Debenture) the Redemption Price (plus accrued and unpaid interest and penalties thereon) in cash or in immediately available funds. If the Company does not make the payment when due, interest will accrue on all outstanding Debentures from and after the Redemption Date at the Default Rate, Rate and the Conversion Price calculated pursuant to Section 4 in connection with any subsequent conversion of this Debenture will be reduced to by $1.50 .50 per share, and this Debenture shall be immediately convertible notwithstanding any other restrictions on conversion.

Redemption Payments. For each Debenture or portion thereof which is to be redeemed hereunder, the Company shall be obligated on the applicable Redemption Date to pay to the Holder thereof (upon surrender by such Holder at the Company's principal office of the Debenture) the Redemption Price in cash or in immediately available funds. If the Company does not make the payment when due, interest will accrue on all outstanding Debentures from and after the Redemption Date at the Default Rate, the Conversion Price calculated pursuant to Section 4 in connection with any subsequent conversion of this Debenture will be reduced to $1.50 0.0075 per share, and this Debenture shall be immediately convertible notwithstanding any other restrictions on conversion.

Redemption Payments. For each Debenture or portion thereof which is to be redeemed hereunder, the Company shall be obligated on the applicable Redemption Date to pay to the Holder thereof (upon surrender by such Holder at the Company's principal office of the Debenture) the Redemption Price in cash or in immediately available funds. If the Company does not make the payment when due, interest will accrue on all outstanding Debentures from and after the Redemption Date at the Default Rate, the Conversion Price calculated pursuant to Section 4 in connection with any subsequent conversion of this Debenture will be reduced to $1.50 0.75 per share, and this Debenture shall be immediately convertible notwithstanding any other restrictions on conversion.