The Debenture. SECTION 301.
The Debenture. The Company and Purchaser agree that the CDA shall be amended as follows:
The Debenture. Each Debenture shall be in the aggregate principal amount set forth immediately below each such Investor's name on the Execution Pages, shall become due and payable on May 31, 1998 unless earlier terminated or converted as provided therein (the "Debenture Due Date"), shall bear interest at the rate of 6% per annum from the date of issuance, which interest shall be payable in arrears in shares of Common Stock on the Debenture Due Date, and shall have such other terms and conditions as are set forth in the form of Debenture attached hereto as Exhibit A. ---------
The Debenture. The Debenture shall be in the aggregate principal amount of $1,500,000, shall become due and payable on March 31, 1998 unless earlier terminated or converted as provided therein (the "Debenture Due Date"), shall bear interest at the rate of 6% per annum from the date of issuance, which interest shall be payable in arrears in shares of Common Stock on the Debenture Due Date, and shall have such other terms and conditions as are set forth in the form of Debenture attached hereto as Exhibit A. ---------
The Debenture. The Debenture in the principal amount of $5,000,000 shall be in the form of EXHIBIT C hereto. The Debenture will be convertible at the holder's option into shares of Common Stock at a conversion price of $1.50 per share, subject to adjustment in certain circumstances.
The Debenture. The Debenture, subject to any matter of law specifically disclosed in an opinion delivered under paragraph 1(a) of Schedule 1, creates (or, once entered into, will create):
The Debenture. 1.2 Terms defined or used in the Debenture shall, unless otherwise defined, have the same meanings in this opinion.
The Debenture. The Loan shall be evidenced by the Borrower's Floating-Rate Convertible Debenture, substantially in the form of Exhibit A hereto (the "Debenture"), in the amount of Three Million Dollars ($3,000,000). The Lender shall enter in its ledgers and records the amount of the Loan and the payments made thereon, and the Lender is authorized by the Borrower to enter on Schedule A attached to the Debenture a record of the Loan, Debenture Advances, and payments.
The Debenture. As continuing collateral security for the prompt payment in full when due (whether at stated maturity, by acceleration or otherwise) of the Secured Obligations, the Guarantor shall issue the Debenture to, and deposit the Debenture with, Saskco.
