Dividends The Sample Clauses

Dividends The. Company shall pay a dividend of eight percent (8%) per annum on the Preferred Stock, for as long as the relevant Preferred Stock has not been redeemed or converted. Dividends shall be paid quarterly, and at the Company’s discretion, in cash provided the Secured Notes have been satisfied in full, or Preferred Stock calculated at the fixed Conversion Price. On each Closing Date, the Company shall prepay interest for one (1) year on the Preferred Stock to be issued on a Closing Date in shares of Preferred Stock.