Common use of CONVERSION REPAYMENT Clause in Contracts

CONVERSION REPAYMENT. 2.1 (a) PAYMENT OF MONTHLY AMOUNT IN CASH OR COMMON STOCK. Each month by the fifth (5th) business day prior to each Repayment Date (the "NOTICE DATE"), the Holder shall deliver to Borrower a written notice in the form of Exhibit B attached hereto (each, a "REPAYMENT NOTICE") stating whether, according to the Conversion Criteria (as defined below), the Monthly Amount payable on the next Repayment Date shall be paid in cash or Common Stock, or a combination of both. If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder in an amount equal to 102% of such amount. The number of such shares to be issued by the Borrower to the Holder on such Repayment Date (in respect of such portion of the Monthly Amount converted into in shares of Common Stock pursuant to Section 2.1(b)), shall be the number determined by dividing (x) the portion of the Monthly Amount converted into shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "FIXED CONVERSION PRICE" means $1.35.

CONVERSION REPAYMENT. 2.1 (a) PAYMENT OF MONTHLY AMOUNT IN CASH OR COMMON STOCKORDINARY Shares. Each month by the fifth (5th) business day prior to each Repayment Amortization Date (the "NOTICE DATE"), the Holder shall deliver to Borrower a written notice Monthly Conversion Notice in the form of Exhibit EXHIBIT B attached hereto (each, a "REPAYMENT NOTICE") stating whether, according to the Conversion Criteria (as defined below), converting the Monthly Amount payable on the next Repayment Date shall be paid in either cash or Common StockOrdinary Shares, or a combination of bothboth (each, a "REPAYMENT NOTICE"). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then then, the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder in an amount equal to 102100% of such amountunconverted portion of the Monthly Amount due and owing to Holder on the Repayment Date. The If the Holder converts all or a portion of the Monthly Amount into Ordinary Shares as provided herein, the number of such shares to be issued by the Borrower to the Holder on such Repayment Date (in respect of such portion of the Monthly Amount converted into in shares of Common Stock pursuant to Section 2.1(b)), shall be the number determined by dividing (x) the portion of the Monthly Amount converted into to be paid in shares of Common StockOrdinary Shares, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "FIXED CONVERSION PRICE" means $1.35.

CONVERSION REPAYMENT. 2.1 2.1. (a) PAYMENT OF MONTHLY AMOUNT IN CASH OR COMMON STOCKPayment of Monthly Amount in Cash or Common Stock. Each month by the fifth (5th) business day prior to each Repayment Amortization Date (the "NOTICE DATENotice Date"), the Holder shall deliver to Borrower a written notice in the form of Exhibit B attached hereto (each, a "REPAYMENT NOTICERepayment Notice") stating whether, according to the Conversion Criteria (as defined below), the Monthly Amount payable on the next Repayment Amortization Date shall be paid in cash or Common Stock, or a combination of both. If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Amortization Date, then the Borrower Borrowers shall pay the Monthly Amount due on such Repayment Amortization Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment an Amortization Date, shall be paid to the Holder in an amount equal to 102103% of such amount. The number of such shares to be issued by the Borrower Xxxxxx Equipment to the Holder on such Repayment Amortization Date (in respect of such portion of the Monthly Amount converted into in shares of Common Stock pursuant to Section 2.1(b)), shall be the number determined by dividing (x) the portion of the Monthly Amount converted into shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "FIXED CONVERSION PRICE" means $1.35.

CONVERSION REPAYMENT. 2.1 2.1. (a) PAYMENT OF MONTHLY AMOUNT IN CASH OR COMMON STOCKPayment of Monthly Amount in Cash or Common Stock. Each month by the fifth (5th) business day prior to each Repayment Amortization Date (the "NOTICE DATE"), the Holder shall deliver to Borrower ROIE a written notice in the form of Exhibit B attached hereto (each, a "REPAYMENT NOTICE") stating whether, according to the Conversion Criteria (as defined below), the Monthly Amount payable on the next Repayment Amortization Date shall be paid in cash or Common Stock, or a combination of both. If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Amortization Date, then the Borrower Borrowers shall pay the Monthly Amount due on such Repayment Amortization Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment an Amortization Date, shall be paid to the Holder in an amount equal to 102% of such amount. The number of such shares to be issued by the Borrower ROIE to the Holder on such Repayment Amortization Date (in respect of such portion of the Monthly Amount converted into in shares of Common Stock pursuant to Section 2.1(b)), shall be the number determined by dividing (x) the portion of the Monthly Amount converted into shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "FIXED CONVERSION PRICE" means $1.35.

CONVERSION REPAYMENT. 2.1 (a) PAYMENT OF MONTHLY AMOUNT IN CASH OR COMMON STOCKPayment of Monthly Amount in Cash or Common Stock. Each month by Not later than the fifth (5th) business day prior to each Repayment Date (the "NOTICE DATENotice Date"), the Holder shall may deliver to Borrower a written notice in the form of Exhibit B attached hereto (each, a "REPAYMENT NOTICE") stating whether, according directing the Borrower to the Conversion Criteria (as defined below), pay the Monthly Amount payable on the next Repayment Date shall be paid in either cash or Common Stock, or a combination of bothboth (each, a "Repayment Notice"). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then then, subject to Section 2.1(b), the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any In the event the Borrower shall be required to pay any portion of the Monthly Amount paid in cash on a Repayment Datecash, the Borrower shall be paid pay to the Holder in respect to such payment an amount equal to 102% of such amountMonthly Amount. The If the Holder elects to convert all or a portion of any Monthly Amount into shares of Common Stock as provided herein, the number of such shares to be issued by the Borrower to the Holder on such Repayment Date (in respect of such portion of the Monthly Amount converted into in shares of Common Stock pursuant to Section 2.1(b)), shall be the number determined by dividing (x) the portion of the Monthly Amount converted into to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "FIXED CONVERSION PRICEFixed Conversion Price" means $1.350.66.

CONVERSION REPAYMENT. 2.1 (a) PAYMENT OF MONTHLY AMOUNT IN CASH OR COMMON STOCKPayment of Monthly Amount in Cash or Common Stock. Each month by month, no later than the fifth (5th) business day prior to each Repayment Amortization Date (the "NOTICE DATE"), subject to 2.1(b), the Holder shall deliver to Borrower a written notice in the form of Exhibit B attached hereto (each, a "REPAYMENT NOTICE") stating whether, according to the Conversion Criteria (as defined below), the Monthly Amount payable on the next Repayment Date shall be paid in cash or converted into Common Stock, or a combination of bothboth (each, a "REPAYMENT NOTICE"). If Subject to Section 2.1(b), if a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any If the Holder converts all or a portion of the Monthly Amount paid in cash on a Repayment Dateinto shares of Common Stock as provided herein, shall be paid to the Holder in an amount equal to 102% of such amount. The number of such shares to be issued by the Borrower to the Holder on such Repayment Date (in respect of such portion of the Monthly Amount converted into in shares of Common Stock pursuant to Section 2.1(b)), shall be the number determined by dividing (x) the portion of the Monthly Amount converted into to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "FIXED CONVERSION PRICE" means $1.35.2.70

CONVERSION REPAYMENT. 2.1 (a) 2.1. PAYMENT OF MONTHLY AMOUNT IN CASH OR COMMON STOCK. Each month by the fifth (5th) business day prior to each Repayment Amortization Date (the "NOTICE DATE"), the Holder shall deliver to Borrower a written notice in the form of Exhibit B attached hereto (each, a "REPAYMENT NOTICE") stating whether, according to the Conversion Criteria (as defined below), converting the Monthly Amount payable on the next Repayment Date shall be paid in either cash or Common Stock, or a combination of bothboth (each, a "REPAYMENT NOTICE"). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder in an amount equal to 102% of such amountthe principal portion of the Monthly Amount due and owing to Holder on the Repayment Date. The If the Holder converts all or a portion of the Monthly Amount in shares of Common Stock as provided herein, the number of such shares to be issued by the Borrower to the Holder on such Repayment Date (in respect of such portion of the Monthly Amount converted into in shares of Common Stock pursuant to Section 2.1(b)), shall be the number determined by dividing (x) the portion of the Monthly Amount converted into to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "FIXED CONVERSION PRICE" means 0.37 until the first Two Million Dollars ($1.352,000,000) of Principal Axxxxx is converted into Common Stock hereunder, and $0.56 for all remaining amounts to be converted hereunder.

CONVERSION REPAYMENT. 2.1 (a) 2.1. PAYMENT OF MONTHLY AMOUNT IN CASH OR COMMON STOCK. Each month by the fifth (5th) business day prior to each Repayment Amortization Date (the "NOTICE DATE"), the Holder shall deliver to Borrower a written notice in the form of Exhibit B attached hereto (each, a "REPAYMENT NOTICE") stating whether, according to the Conversion Criteria (as defined below), converting the Monthly Amount payable on the next Repayment Date shall be paid in either cash or Common Stock, or a combination of bothboth (each, a "REPAYMENT NOTICE"). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder in an amount equal to 102% of such amountthe principal portion of the Monthly Amount due and owing to Holder on the Repayment Date. The If the Holder converts all or a portion of the Monthly Amount in shares of Common Stock as provided herein, the number of such shares to be issued by the Borrower to the Holder on such Repayment Date (in respect of such portion of the Monthly Amount converted into in shares of Common Stock pursuant to Section 2.1(b)), shall be the number determined by dividing (x) the portion of the Monthly Amount converted into to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "FIXED CONVERSION PRICE" means $1.350.56 (which has been determined on the date of this Note as an amount equal to 105% of the closing price of the Common Stock on the trading date immediately prior to the date hereof).

CONVERSION REPAYMENT. 2.1 (a) PAYMENT OF MONTHLY AMOUNT IN CASH OR COMMON STOCKPayment of Monthly Amount in Cash or Common Stock. Each month by By the fifth (5th) business day prior to each Repayment Amortization Date (the "NOTICE DATENotice Date"), the Holder shall deliver to Borrower a written notice in the form of Exhibit B A attached hereto (each, a "REPAYMENT NOTICE") stating whether, according to the Conversion Criteria (as defined below), indicating that portion of the Monthly Amount payable on the next that Repayment Date shall to be paid in satisfied by the payment of cash or the issuance of Common Stock upon conversion of all or a portion of the Monthly Amount into shares of Common Stock, or a combination of bothboth (each, a "Repayment Notice"). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder in an amount equal to 102% of such amountthe Monthly Amount due and owing to Holder on the Repayment Date. The If the Holder converts all or a portion of the Monthly Amount into shares of Common Stock as provided herein, the number of such shares to be issued by the Borrower to the Holder on such Repayment Date (in respect of such portion of the Monthly Amount converted into in shares of Common Stock pursuant to Section 2.1(b)), shall be the number determined by dividing (x) the dollar portion of the Monthly Amount converted into to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price. Any amounts converted by the Holder pursuant to this Section 2.2 shall be deemed to constitute payments of outstanding fees, interest and principal arising in connection with Monthly Amounts. For purposes hereof, the initial "FIXED CONVERSION PRICEFixed Conversion Price" means $1.350.24.