Repayment of Note. Subject to Section 1(d), unless the Company and the Investor have mutually agreed to an Extension in accordance with Section 1(a) or the Company has received notice pursuant to Section 4(b), the principal and accrued interest on this Note shall be payable in full five (5) business days prior to the Initial Maturity Date. In the event that the Company and the Investor have mutually agreed to an Extension, subject to Section 1(d), the principal and accrued interest on this Note shall be payable in full five (5) business days prior to the Extended Maturity Date.
Repayment of Note. If the Company incurs any debt, including the issuance of any subordinated debt or convertible debt (other than the Note) or any preferred stock, unless otherwise agreed in writing by the Investor or unless such debt is issued to a seller as partial consideration paid to such seller in connection with an Acquisition, the Company will immediately utilize the proceeds of such issuance to repay the Note, if outstanding, unless waived by the Investor; provided, however, that this Section 5.7 shall not apply to the transactions identified on Schedule 5.7 hereto; provided, that the party providing such debt enters into an intercreditor agreement with the Company and the Investor on terms reasonably satisfactory to the Investor.
Repayment of Note. Other than as set forth on Schedule 5.7, neither the Company nor any Subsidiary has outstanding any Indebtedness (all such Indebtedness set forth on Schedule 5.7 is hereinafter referred to as the “Permitted Debt”). The Company shall not make any voluntary cash prepayments on any Indebtedness at any time while any amounts are owing under the Note, and shall not make any cash payments whatsoever with respect to amounts owing under any convertible promissory notes issued in connection with the Company’s acquisition of Skyline Partners Technology LLC (the “Skyline Partners Notes”) at any time while any amounts are owing under the Note other than cash payments the Company is required to make pursuant to the express terms thereof existing on the date hereof. If the Company or any Subsidiary issues any debt other than the Permitted Debt, including any subordinated debt or convertible debt (other than the Note), or any Preferred Stock, other than Exempted Securities, unless otherwise waived in writing by and at the discretion of the Investor, the Company will immediately utilize the proceeds of such issuance (or cause such Subsidiary to immediately utilize the proceeds of such issuance) to repay the Note. If the Company issues any Equity Interests, other than Exempted Securities, for aggregate proceeds to the Company of greater than $20,000,000, excluding offering costs or other expenses, unless otherwise waived in writing by and at the discretion of the Investor, the Company will direct 20% of such proceeds from such issuance to repay the Note. Any such repayment of the Note shall be made without premium or penalty.
Repayment of Note. Immediately prior to the consummation of any Public Offering, the entire unpaid principal balance of the Executive Note and each Carry Note, together with any accrued but unpaid interest thereon, shall be paid by Executive to the Company. Upon such payment in full, the Executive Note shall be surrendered to Executive for cancellation and shall not be reissued, in accordance with Paragraph 7 of the Executive Note, and each Carry Note shall be surrendered to Executive for cancellation and shall not be reissued, in accordance with Paragraph 5 of the Carry Notes.
Repayment of Note. The Company shall make weekly payments to the Investors on a pari passu basis equal to the gross proceeds generated from the Sale or Issuance of Bitcoin, as provided in Section 5.8. Other than as set forth on Schedule 5.7, neither the Company nor any Subsidiary has any outstanding Indebtedness (all such Indebtedness set forth on Schedule 5.7 is hereinafter referred to as the “Existing Debt” and is collectively referred to herein as the “Permitted Indebtedness”). The Company shall not make any voluntary cash prepayments on any Indebtedness at any time while any amounts are owing under the Note other than with respect to the Existing Debt or cash payments the Company is required to make pursuant to the express terms thereof existing on the date hereof. Neither the Company nor any Subsidiary shall incur any Indebtedness without the express written consent of the Investor. If the Company or any Subsidiary issues any Indebtedness other than the Permitted Indebtedness, after obtaining the written consent of the Investor pursuant to Section 1.9 of the Note, including any subordinated Indebtedness or convertible Indebtedness, other than Exempted Securities, then unless otherwise waived in writing by and at the discretion of the Investor, the Company will immediately utilize no less than sixty-five percent (65%) of the proceeds of such issuance (or cause such Subsidiary to immediately utilize the proceeds of such issuance) to repay the Note. If the Company issues any Equity Interests, other than Exempted Securities, or mines or sells any Bitcoin, unless otherwise waived in writing by and at the discretion of the Investor, the Company will direct sixty-five percent (65%) of the proceeds from such issuance or sale of Bitcoin to repay the Note on a pari passu basis. Additionally, in the event that an Investor exercises some or all of its Warrants for cash (“Exercise Proceeds”), then the Company shall direct all such Exercise Proceeds to the repayment of the Note. Any such repayments of the Note as provided in this Section 5.7 shall be made to the Investors on a pro rata basis in proportion to their investment and shall be without premium or penalty to the Company. Moreover, each Investor may, in its sole discretion and acting solely on behalf of itself, require that the Company apply some or all amounts owing under the Note to the payment of any cash exercises of the Warrants by the Investor.
Repayment of Note. If the Company issues any Indebtedness (other than the Note), or issues any Preferred Stock, other than Exempted Securities, unless otherwise waived in writing by and at the discretion of the Investor, the Company will immediately utilize the proceeds of such issuance to repay the Note. If the Company issues any Equity Interests, other than Exempted Securities, for aggregate cumulative gross proceeds to the Company or any Subsidiary, as applicable, of greater than Seven Million Dollars ($7,000,000) while the Note remains outstanding, excluding offering costs or other expenses, unless otherwise waived in writing by and at the discretion of the Investor, the Company will direct twenty percent (20%) of the proceeds from such issuance to repay the Note.
Repayment of Note. Notwithstanding anything to the contrary set forth in the Note:
Repayment of Note. The obligation of Borrower to repay the Loan shall be evidenced by the Note executed by Borrower, payable to the order of Lender, in the principal amount of the Loan and dated the date of the making of the Loan.
Repayment of Note. Apart from payments in respect of Indebtedness owing to Live Oak Banking Company, the Company shall not make any voluntary cash prepayments on any Indebtedness at any time while any amounts are owing under the Note other than cash payments the Company is required to make pursuant to the express terms thereof existing on the date hereof. If the Company or any Subsidiary issues any debt, including any subordinated debt or convertible debt (other than the Note), any preferred shares or any other Equity Interests, other than Exempted Securities, unless otherwise waived in writing by and at the discretion of the Investor, the Company will immediately utilize the proceeds of such issuance (or cause such Subsidiary to immediately utilize the proceeds of such issuance) to repay the Note.
Repayment of Note. Notwithstanding anything to the contrary contained herein, upon the indefeasible payment in full of the obligations under the Note in immediately available funds, this Agreement shall automatically terminate and be without further force or effect
