Common use of Settlement of Accrued Interest and Deemed Payment of Principal Clause in Contracts

Settlement of Accrued Interest and Deemed Payment of Principal. If a Holder converts a Note, the Issuer will not adjust the Conversion Rate to account for any accrued and unpaid interest on such Note, and the Issuer’s delivery or payment of shares of Common Stock into which a Note is convertible will be deemed to satisfy and discharge in full the Issuer’s obligation to pay the principal of, and accrued and unpaid interest, if any, on, such Note to, but excluding, the Conversion Date; provided, however, that subject to Section 5.02(f), if a Holder converts a Note after the Close of Business on a Record Date and prior to the Open of Business on the corresponding Interest Payment Date, the Issuer will still be obligated to pay the interest due on such Interest Payment Date to the Holder of such Note on such Record Date. As a result, except as otherwise provided in the proviso to the immediately preceding sentence, any accrued and unpaid interest with respect to a converted Note will be deemed to be paid in full rather than cancelled, extinguished or forfeited.

Settlement of Accrued Interest and Deemed Payment of Principal. If a Holder converts a Note, the Issuer will not adjust the Conversion Rate to account for any accrued and unpaid interest on such Note, and the Issuer’s delivery or payment of shares of Common Stock into which a Note is convertible will be deemed to satisfy and discharge in full the Issuer’s obligation to pay the principal of, and accrued and unpaid interest, if any, on, such Note to, but excluding, the Conversion Date; provided, however, that subject to Section 5.02(f12.02(f), if a Holder converts a Note after the Close of Business on a Record Date and prior to the Open of Business on the corresponding Interest Payment Date, the Issuer will still be obligated to pay the interest due on such Interest Payment Date to the Holder of such Note on such Record Date. As a result, except as otherwise provided in the proviso to the immediately preceding sentence, any accrued and unpaid interest with respect to a converted Note will be deemed to be paid in full rather than cancelled, extinguished or forfeited.

Settlement of Accrued Interest and Deemed Payment of Principal. If a Holder holder converts a Note, the Issuer will not adjust the Conversion Rate to account for any accrued and unpaid interest on such Note, and the Issuer’s delivery or payment of shares of Common Stock into which a Note is convertible will be deemed to satisfy and discharge in full the Issuer’s obligation to pay the principal of, and accrued and unpaid interest, if any, on, such Note to, but excluding, the Conversion Date; provided, however, that subject to Section 5.02(f10.02(f), if a Holder holder converts a Note after the Close of Business on a Record Date and prior to the Open of Business on the corresponding Interest Payment Date, the Issuer will still be obligated to pay the interest due on such Interest Payment Date to the Holder holder of such Note on such Record Date. As a result, except as otherwise provided in the proviso to the immediately preceding sentence, any accrued and unpaid interest with respect to a converted Note will be deemed to be paid in full rather than cancelled, extinguished or forfeited.

Settlement of Accrued Interest and Deemed Payment of Principal. If a Holder converts exchanges a Note, the Issuer Company will not adjust the Conversion Exchange Rate to account for any accrued and unpaid interest on such Note, and the IssuerCompany’s delivery or payment of the shares of Common Stock (and cash in lieu of fractional shares) into which a Note is convertible exchangeable will be deemed to satisfy and discharge in full the IssuerCompany’s obligation to pay the principal of, and accrued and unpaid interest, if any, on, such Note to, but excluding, the Conversion Exchange Date; provided, however, that subject to Section 5.02(f4.02(f), if a Holder converts exchanges a Note after the Close of Business on a Regular Record Date and prior to the Open of Business on the corresponding Interest Payment Date, the Issuer Company will still be obligated to pay the interest due on such Interest Payment Date to the Holder of such Note on such Regular Record Date. As a result, except as otherwise provided in the proviso to the immediately preceding sentence, any accrued and unpaid interest with respect to a converted an exchanged Note will be deemed to be paid in full rather than cancelled, extinguished or forfeited.

Settlement of Accrued Interest and Deemed Payment of Principal. If a Holder converts a Note, the Issuer Company will not adjust the Conversion Rate to account for any accrued and unpaid interest on such the Note, and the Issuer’s Company's delivery or payment of the number of shares of Common Stock and the amount of cash, if any, into which a Note is convertible will be deemed to satisfy and discharge in full the Issuer’s Company's obligation to pay the principal of, of such Note and accrued and unpaid interest, if any, on, such Note to, but excluding, excluding the Conversion Date; provided, however, that subject to Section 5.02(f), if a Holder converts a Note after the Close of Business on a Regular Record Date and prior to the Open of Business on the corresponding Interest Payment Date, the Issuer Company will still be obligated to pay the interest due on such Interest Payment Date to the Holder of such Note as of the Close of Business on such Regular Record Date. Date As a result, except as otherwise provided in the proviso to the immediately preceding sentence, any accrued and unpaid interest with respect to a converted Note will be deemed to be paid in full rather than cancelled, extinguished or forfeited. In addition, if both cash and shares of the Common Stock are delivered upon the conversion of a Note, accrued and unpaid interest will be deemed to be paid first out of the amount of cash so delivered.