The Debenture. SECTION 301.
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 Company and Purchaser agree that the CDA shall be amended as follows:
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 $3,800,000 shall be in the form of EXHIBIT A hereto. The Debenture will be convertible at the holder's option into shares of Common Stock at a conversion price of $2.55 per share, subject to adjustment in certain circumstances.
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.
The Debenture. 6 Section 3.1
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. The Debenture to be issued by Lithium to the selling shareholder on Closing shall be a Secured Convertible Debenture which shall be due and payable on December 1, 2014, subject to certain terms and conditions with respect to the conversion of the Debenture into Common Shares of Lithium. If the selling shareholder makes a decision to convert the Debenture, upon conversion, the Debenture shall be Convertible into Common Shares of Lithium at a price to be determined and agreed by the Parties prior to the Closing of the Transaction. If the Debenture is not converted, the Parties agree that it may be repaid at a later date or upon the expiry of the Term of the Debenture.
