Subsequent Maturity Date; Extension. In the event that the Company does not pay the entire amount of the Obligations on the Initial Maturity Date either (i) in cash or (ii) to the extent permitted through an Exchange in accordance with Section 2(c) below, the Holder shall have the option to extend the Maturity Date as to all or any part of the Obligations from the Initial Maturity Date to the Subsequent Maturity Date (the “Maturity Extension Option”). If the Holder exercises the Maturity Extension Option, the Obligations shall become due on the Subsequent Maturity Date instead of the Initial Maturity Date, and Interest (and any other amounts) shall continue to accrue hereon through the full and final payment (through cash or an Exchange) of all
Appears in 4 contracts
Samples: Securities Purchase Agreement (Earth Biofuels Inc), Securities Purchase Agreement (Earth Biofuels Inc), Securities Purchase Agreement (Earth Biofuels Inc)
