Scheduled Payment. Unless converted or extended as set forth below, the Accreted Principal Amount (including any accrued and unpaid interest) of this Note shall be due and payable on April 14, 2021. Prior to April 14, 2021, the Company may, at its option, elect to extend the maturity date to April 14, 2022 in exchange for the adjustment of the Conversion Rate as set forth in Section 5.2 and the issuance of a warrant to Purchaser as set forth in Article XII (the “First Option”). If the Company exercises the First Option, then, prior to April 14, 2022, the Company may, at its option, elect to extend the maturity date to April 14, 2023 in exchange for an increase in the interest rate as set forth in Article II, the adjustment of the Conversion Rate as set forth in Section 5.2 and the issuance of an additional warrant to Purchaser as set forth in Article XII (the “Second Option”). If the Company exercises the First Option and the Second Option, then, prior to April 14, 2023, the Company may, at its option, elect to extend the maturity date to April 16, 2024 in exchange for an increase in the interest rate as set forth in Article II, the adjustment of the Conversion Rate as set forth in Section 5.2 and the issuance of an additional warrant to Purchaser as set forth in Article XII (the “Third Option”). The First Option, Second Option and Third Option are hereinafter collectively referred to as the Options.”
Appears in 4 contracts
Samples: Convertible Promissory Note (Sequans Communications), Convertible Promissory Note (Sequans Communications), Convertible Promissory Note (Sequans Communications)
