Conversion Mechanics. (a) The number of shares of Common Stock to be issued upon each conversion of this Note pursuant to this Article III shall be determined by dividing that portion of the Principal Amount and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding obligations under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions (i) first, of the Monthly Amount for the current calendar month, (ii) then of outstanding Amortizing Principal Amount, by applying the conversion amount to Monthly Principal Amounts for the remaining Repayment Dates in chronological order, (iii) then of the accrued interest on the Non-Amortizing Principal Amount, and (iv) then, of outstanding Non-Amortizing Principal Axxxxx.
Appears in 2 contracts
Samples: Centurion Gold Holdings Inc, Catalyst Lighting Group Inc
Conversion Mechanics. (a) The number of shares of Common Stock to be issued upon each conversion of this Note pursuant to this Article III shall be determined by dividing that portion of the Principal Amount and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding obligations under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions (i) first, of the Monthly Amount for the current calendar month, (ii) then, of the accrued interest on the Non-Amortizing Principal Amount ,(iii) then of outstanding Amortizing Principal Amount, by applying apxxxxxx the conversion amount to Monthly Principal Amounts for the remaining Repayment Dates in chronological order, (iii) then of the accrued interest on the Non-Amortizing Principal Amount, order and (iv) then, of outstanding Non-Amortizing Principal Axxxxx.Amount..
Appears in 2 contracts
Samples: Creative Vistas Inc, Creative Vistas Inc
Conversion Mechanics. (a) The number of shares of Common Stock to be issued upon each conversion of this Note pursuant to this Article III shall be determined by dividing that portion of the Principal Amount and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding obligations under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions (i) first, of the Monthly Amount for the current calendar month, (ii) then of the accrued interest on the Non-Amortizing Principal Xxxxxx, (iii) then of outstanding Amortizing Principal Amount, by applying the conversion amount to Monthly Principal Amounts for the remaining Repayment Dates in chronological order, (iii) then of the accrued interest on the Non-Amortizing Principal Amount, order and (iv) then, of outstanding Non-Amortizing Principal AxxxxxAmount.
Appears in 2 contracts
Samples: Securities Purchase Agreement (It&e International Group), It&e International Group
Conversion Mechanics. (a) The number of shares of Common Stock to be issued upon each conversion of this Note pursuant to this Article III shall be determined by dividing that portion of the Principal Amount and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding obligations under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions (i) first, of the Monthly Amount for the current calendar month, (ii) then of the accrued interest on the Principal Amount, and (iii) then of outstanding Amortizing Principal Amount, by applying the conversion amount to Monthly Principal Amounts for the remaining Repayment Dates in chronological order, (iii) then of the accrued interest on the Non-Amortizing Principal Amount, and (iv) then, of outstanding Non-Amortizing Principal Axxxxx.
Appears in 2 contracts
Samples: Comc Inc, AdAl Group Inc.
Conversion Mechanics. (a) The number of shares of Common Stock to be issued upon each conversion of this Note pursuant to this Article III shall be determined by dividing that portion of the Principal Amount and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding obligations under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions (i) first, of the Monthly Amount for the current calendar month, and (ii) then ii)second, of outstanding Amortizing Principal Amount, by applying the conversion amount to Monthly Principal Amounts for the remaining Repayment Dates in chronological order, (iii) then of the accrued interest on the Non-Amortizing Principal Amount, and (iv) then, of outstanding Non-Amortizing Principal Axxxxx.
Appears in 2 contracts
Samples: Conversion Services International Inc, Conversion Services International Inc
Conversion Mechanics. (a) The number of shares of Common Stock to be issued upon each conversion of this Note pursuant to this Article III shall be determined by dividing that portion of the Principal Amount and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding obligations under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions (i) first, of the Monthly Amount for the current calendar month, (ii) then of the accrued interest on the Non-Amortizing Principal Amount, (iii) then of outstanding Amortizing Principal Amount, by applying the conversion amount to Monthly Principal Amounts for the remaining Repayment Dates in chronological order, (iii) then of the accrued interest on the Non-Amortizing Principal Amount, order and (iv) then, of outstanding Non-Amortizing Principal AxxxxxAmount.
Appears in 1 contract
Samples: Securities Purchase Agreement (Petrol Oil & Gas Inc)
Conversion Mechanics. (a) The number of shares of Common Stock to be issued upon each conversion of this Term Note pursuant to this Article III shall be determined by dividing that portion of the Principal Amount and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding obligations under this Term Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions (i) first, of the Monthly Amount for the current calendar month, (ii) then of any accrued interest on the Principal Amount and (iii) then of outstanding Amortizing Principal Amount, by applying the conversion amount to Monthly Principal Amounts for the remaining Repayment Dates in chronological order, (iii) then of the accrued interest on the Non-Amortizing Principal Amount, and (iv) then, of outstanding Non-Amortizing Principal Axxxxx.
Appears in 1 contract
Samples: Corgenix Medical Corp/Co
Conversion Mechanics. (a) The number of shares of Common Stock to be issued upon each conversion of this Note pursuant to this Article III shall be determined by dividing that portion of the Principal Amount and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding obligations under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions (i) first, of the Monthly Amount for the current calendar month, (ii) then of the accrued interest on the Principal Amount, (iii) then of outstanding Amortizing Principal Amount, by applying the conversion amount to Monthly Principal Amounts for the remaining Repayment Dates in chronological order, (iii) then of the accrued interest on the Non-Amortizing Principal Amount, order and (iv) then, of outstanding Non-Amortizing Principal AxxxxxAmount.
Appears in 1 contract
Samples: Fast Eddie Racing Stables Inc
Conversion Mechanics. (a) The number of shares of Common Stock to be issued upon each conversion of this Note pursuant to this Article III shall be determined by dividing that portion of the Principal Amount and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding obligations under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions (i) first, of the Monthly Amount for the current calendar month, (ii) then of the accrued interest on the Non-Amortizing Principal Xxxxxx, (iii) then, of outstanding Non-Amortizing Principal Amount and (iv) after the Non-Amortizing Principal Amount has been paid in full, of outstanding Amortizing Principal Amount, by applying the conversion amount to Monthly Principal Amounts for the remaining Repayment Dates in chronological order, (iii) then of the accrued interest on the Non-Amortizing Principal Amount, and (iv) then, of outstanding Non-Amortizing Principal Axxxxx.
Appears in 1 contract
Samples: Pipeline Data Inc
Conversion Mechanics. (a) The number of shares of Common Stock to be issued upon each conversion of this Note pursuant to this Article III shall be determined by dividing that portion of the Principal Amount and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding obligations under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions (i) first, of the Monthly Amount for the current calendar month, (ii) then of outstanding Amortizing Principal Amount, by applying the conversion amount to Monthly Principal Amounts for the remaining Repayment Dates in chronological order, (iii) then of the accrued interest on the Non-Amortizing Principal Amount, (iii) then, of outsxxxxxxg Non-Amortizing Principal Amount and (iv) then, of outstanding after the Non-Amortizing Principal AxxxxxAmount has been paid in full, of outstanding Amortizing Principal Amount by applying the conversion amount to Monthly Amounts for the remaining Repayment Dates in chronological order.
Appears in 1 contract
Samples: Datalogic International Inc
Conversion Mechanics. (a) The number of shares of Common Stock to be issued upon each conversion of this Note pursuant to this Article III shall be determined by dividing that portion of the Principal Amount and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding obligations under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions (i) first, of the Monthly Amount for the current calendar month, (ii) then of outstanding Amortizing Principal Amount, by applying the conversion amount to Monthly Principal Amounts for the remaining Repayment Dates in chronological order, (iii) then of the accrued interest on the Non-Amortizing Principal Amount, and (iv) then, of outstanding Non-Amortizing Principal AxxxxxXxxxxx.
Appears in 1 contract
Samples: Centurion Gold Holdings Inc
Conversion Mechanics. (a) The number of shares of Common Stock to be issued upon each conversion of this Note pursuant to this Article III shall be determined by dividing that portion of the Principal Amount and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding obligations under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions (i) first, of the Monthly Amount for the current calendar month, (ii) then of the accrued interest on the Non-Amortizing Principal Amount, (iii) then, of outstanding Non-Amortizing Principal Amount and (iv) after the Non-Amortizing Principal Amount has been paid in full, of outstanding Amortizing Principal Amount, by applying the conversion amount to Monthly Principal Amounts for the remaining Repayment Dates in chronological order, (iii) then of the accrued interest on the Non-Amortizing Principal Amount, and (iv) then, of outstanding Non-Amortizing Principal Axxxxx.
Appears in 1 contract
Samples: Trinity Learning Corp
Conversion Mechanics. (a) The number of shares of Common Stock to be issued upon each conversion of this Note pursuant to this Article III shall be determined by dividing that portion of the Principal Amount and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding obligations under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions (i) first, of the Monthly Amount for the current calendar month, (ii) then of outstanding Amortizing Principal Amount, by applying the conversion amount to Monthly Principal Amounts for the remaining Repayment Dates in chronological order, . (iii) then then, of the accrued interest on the Non-Amortizing Principal AmountXxxxxx, and (iv) then, of outstanding Non-Amortizing Principal AxxxxxXxxxxx.
Appears in 1 contract
Samples: Coach Industries Group Inc
Conversion Mechanics. (a) The number of shares of Common Stock to be issued upon each conversion of this Note pursuant to this Article III shall be determined by dividing that portion of the Principal Amount and interest and fees to be converted, if any, by the then applicable Fixed Conversion Price. In the event of any conversions of outstanding obligations under this Note in part pursuant to this Article III, such conversions shall be deemed to constitute conversions (i) first, of the Monthly Amount for the current calendar month, (ii) then of the accrued interest on the Non-Amortizing Principal Amount, (iii) then, of outstanxxxx Xon-Amortizing Principal Amount and (iv) after the Non-Amortizing Principal Amount has been paid in full, of outstanding Amortizing Principal Amount, by applying the conversion amount to Monthly Principal Amounts for the remaining Repayment Dates in chronological order, (iii) then of the accrued interest on the Non-Amortizing Principal Amount, and (iv) then, of outstanding Non-Amortizing Principal Axxxxx.
Appears in 1 contract
Samples: Pipeline Data Inc