Common use of Additional Principal Clause in Contracts

Additional Principal. From time to time, the Company shall have the right to make cash loans from its operating cash in excess of the Company’s operating needs to the Parent and/or one more of its other subsidiaries which loan agreement between the Company and debtor(s) shall be in writing with interest as provided herein and secured, as further provided by the terms of this Note. A copy of each loan agreement shall be consecutively number and delivered to the Holder and appended to this Note. Each loan agreement’s amount shall become Additional Principal of this Note and bear interest from the date of the loan. The Additional Principal of this Note may be prepaid in whole or in part at any time prior to the Maturity Date. It is specifically understood that the Company shall be under no obligation to make cash loans totaling more than Five Hundred Thousand Dollars ($500,000) during the term of this Note. Holder’s and Maker’s Election re Fifteen Millions Shares of Datameg Common Stock. The Principal Shareholders shall be issued, pro rata, fifteen million shares of Datameg Corporation’s unregistered common stock (the "Shares") as provided in the Merger Agreement. The Shares are to be held in escrow by Datameg Corporation without restrictive legends other than as required by law. The Holder may at any time during the term of this Note, upon sixty (60) day written notice, deliver its election to the Maker and Datameg Corporation to return the Shares to Datameg Corporation and the principal amount of the of this Note shall upon return of the Shares be increased by Five Hundred Thousand Dollars ($500,000), at which time this Note and any additional loans of the Company shall become immediately due and payable (the Election Period"). During the Election Period, Holder may, in writing, waive its right to elect to return the Shares and upon delivery of the waiver to Maker and Datameg Corporation the amounts due under the Note shall thereupon be deemed satisfied in full upon delivery of the Shares to Holder.

Additional Principal. From time to time, the Company shall have the right to make cash loans from its operating cash in excess of the Company’s operating needs to the Parent and/or one more of its other subsidiaries which loan agreement between the Company and debtor(s) shall be in writing with interest as provided herein and secured, as further provided by the terms of this Note. A copy of each loan agreement shall be consecutively number and delivered to the Holder and appended to this Note. Each loan agreement’s amount shall become Additional Principal of this Note and bear interest from the date of the loan. The Additional Principal of this Note may be prepaid in whole or in part at any time prior to the Maturity Date. It is specifically understood that the Company shall be under no obligation to make cash loans totaling more than Five Hundred Thousand Dollars ($500,000) during the term of this Note. Holder▇▇▇▇▇▇’s and Maker’s Election re Fifteen Millions Shares of Datameg Common Stock. The Principal Shareholders shall be issued, pro rata, fifteen million shares of Datameg Corporation’s unregistered common stock (the "Shares") as provided in the Merger Agreement. The Shares are to be held in escrow by Datameg Corporation without restrictive legends other than as required by law. The Holder may at any time during the term of this Note, upon sixty (60) day written notice, deliver its election to the Maker and Datameg Corporation to return the Shares to Datameg Corporation and the principal amount of the of this Note shall upon return of the Shares be increased by Five Hundred Thousand Dollars ($500,000), at which time this Note and any additional loans of the Company shall become immediately due and payable (the Election Period"). During the Election Period, Holder may, in writing, waive its right to elect to return the Shares and upon delivery of the waiver to Maker and Datameg Corporation the amounts due under the Note shall thereupon be deemed satisfied in full upon delivery of the Shares to Holder.