Common use of Late Payment Penalty Clause in Contracts

Late Payment Penalty. If any portion of the principal of or interest on this Debenture shall not be paid within ten (10) days of when it is due, the Discount Multiplier under this Debenture, and under all warrants granted by the Company to the Holder, shall decrease by one percentage point (1%) for all conversions of this Debenture and warrant exercises thereafter.

Late Payment Penalty. If any portion of the principal of or interest on this Debenture shall not be paid within ten (10) days of when it is due, the Discount Multiplier under this Debenture, and under all warrants granted by the Company to the Holder, shall decrease by an aggregate of one percentage point (1%) for all conversions of this Debenture and warrant exercises thereafter.. ----------- ----------- Initials 12 Initials

Late Payment Penalty. If any portion of the principal of or interest on this Debenture shall not be paid within ten (10) days of when it is due, the Discount Multiplier under this Debenture, and under all warrants granted by the Company to the Holder, shall decrease by one percentage point (1%) for all conversions of this Debenture and warrant exercises occurring until the date such payment is made and for one month thereafter.. 12 ------------------- -------------------- Initials Initials