Common use of SECURED NOTES PAYABLE DESCRIBED ON EXHIBIT B Clause in Contracts

SECURED NOTES PAYABLE DESCRIBED ON EXHIBIT B. a) All interest payments relating to the Indebtedness listed on Exhibit B hereof to the extent such interest payments are paid in cash. b) Principal payments relating to that Indebtedness listed on Exhibit B, #4, provided, that such principal payments will only be made in the amounts and after the dates indicated below: - $100,000 after the date on which Aspen and its Affiliates have provided $4.0. million of aggregate funding to the Company pursuant to the Transaction Documents c) Principal payments relating to that Existing Indebtedness listed on Exhibit B, #1, #2, and #3, pursuant to the terms thereof, and subject to the terms of the Transaction Documents or the Samsung Transaction Documents, provided that such principal payments are made pro rata to the holders thereof in proportion to the aggregate principal amount of all such notes that may be outstanding as of the date of any such principal payments.

Appears in 4 contracts

Samples: Secured Convertible Promissory Note (Xg Sciences Inc), Secured Convertible Promissory Note (Xg Sciences Inc), Secured Convertible Promissory Note (Xg Sciences Inc)

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SECURED NOTES PAYABLE DESCRIBED ON EXHIBIT B. a) All interest payments relating to the Indebtedness listed on Exhibit B hereof to the extent such interest payments are paid in cash. b) Principal payments relating to that Indebtedness listed on Exhibit B, #4, provided, that such principal payments will only be made in the amounts and after the dates indicated below: - $100,000 after the date on which Aspen and its Affiliates have provided $4.0. million of aggregate funding to the Company pursuant to the Transaction Documents c) Principal payments relating to that Existing Indebtedness listed on Exhibit B, #1, #2, and #3, pursuant to the terms thereof, and subject to the terms of the Transaction Documents or the Samsung Transaction Documents, provided that such principal payments are made pro rata to the holders thereof in proportion to the aggregate principal amount of all such notes that may be outstanding as of the date of any such principal payments.

Appears in 1 contract

Samples: Secured Convertible Promissory Note (Xg Sciences Inc)

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SECURED NOTES PAYABLE DESCRIBED ON EXHIBIT B. a) All interest payments relating to the Indebtedness listed on Exhibit B hereof to the extent such interest payments are paid in cash. b) Principal payments relating to that Indebtedness listed on Exhibit B, #4, provided, that such principal payments will only be made in the amounts and after the dates indicated below: - $100,000 after the date on which Aspen and its Affiliates have provided $4.0. million of aggregate funding to the Company pursuant to the Transaction Documents c) Principal payments relating to that Existing Indebtedness listed on Exhibit B, #1, #2, and #3, pursuant to the terms thereof, and subject to the terms of the Transaction Documents or the Samsung Aspen Transaction Documents, provided that such principal payments are made pro rata to the holders thereof in proportion to the aggregate principal amount of all such notes that may be outstanding as of the date of any such principal payments.

Appears in 1 contract

Samples: Secured Convertible Promissory Note (Xg Sciences Inc)

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