Common use of Bridge Notes Clause in Contracts

Bridge Notes. The Bridge Loan Holders, ADRM and Aduromed hereby agree that as of the Effective Time the Bridge Notes in the principal amount of $1,275,000 shall convert automatically and without further action on their part into 93,750,000 shares of Common Stock. From and after June 30, 2008 no further principal or interest shall accrue or be payable on such Bridge Notes. ADRM hereby agrees to take any and all necessary or appropriate actions to issue and register pursuant to the Securities Act of 1933 the Common Stock contemplated to be issued pursuant to such aforementioned conversion. The parties hereto further agree that Xxxxxx and the Xxxxx/Xxxxx Secured Parties may, prior to the Effective Time, transfer Bridge Notes among themselves on such terms as they shall agree, but that any such transfers shall not effect the principal amount of Bridge Notes outstanding or the resulting number of shares of Common Stock resulting from such conversion as set forth above. Xxxxxx and the Xxxxx/Xxxxx Secured Parties shall advise ADRM prior to the Effective Time as to the respective principal amounts of Bridge Notes held by them as of the Effective Time.

Bridge Notes. The Bridge Loan Holders, ADRM and Aduromed hereby agree that as of the Effective Time the Bridge Notes in the principal amount of $1,275,000 shall convert automatically and without further action on their part into 93,750,000 shares of Common Stock. From and after June 30, 2008 no further principal or interest shall accrue or be payable on such Bridge Notes. ADRM hereby agrees to take any and all necessary or appropriate actions to issue and register pursuant to the Securities Act of 1933 the Common Stock contemplated to be issued pursuant to such aforementioned conversion. The parties hereto further agree that Xxxxxx Hxxxxx and the XxxxxPxxxx/Xxxxx Lxxxx Secured Parties may, prior to the Effective Time, transfer Bridge Notes among themselves on such terms as they shall agree, but that any such transfers shall not effect the principal amount of Bridge Notes outstanding or the resulting number of shares of Common Stock resulting from such conversion as set forth above. Xxxxxx Hxxxxx and the XxxxxPxxxx/Xxxxx Lxxxx Secured Parties shall advise ADRM prior to the Effective Time as to the respective principal amounts of Bridge Notes held by them as of the Effective Time.