Common use of Optional Prepayment Clause in Contracts

Optional Prepayment. (a) The Company shall have the right, exercisable at any time upon twenty (20) Trading Days prior written notice to the Holders of the Debentures to be prepaid and accompanied by any waiver required by holders of senior indebtedness of the Company for such prepayment (the "Optional Prepayment Notice"), to prepay, all or any portion of the outstanding principal amount of the Debentures which have not previously been repaid or for which Conversion Notices have not previously been delivered. The prepayment price applicable to such prepayments shall equal the Optional Prepayment Price (as defined in Section 7) and shall be paid in cash. Any such prepayment shall be free of any claim of subordination. The Holders shall have the right to tender, and the Company shall honor, Conversion Notices delivered prior to the expiration of the twentieth (20th) Trading Day after receipt by the Holders of an Optional Prepayment Notice for such Debentures (the 20th Trading Day after receipt by the Holders of an Optional Prepayment Notice is referred to herein as the "Optional Prepayment Date").

Appears in 13 contracts

Samples: Ivoice Com Inc /De, Collectible Concepts Group Inc, Ivoice Com Inc /De

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Optional Prepayment. (a) The Company shall have the right, exercisable at any time upon twenty (20) Trading Days prior written notice to the Holders of the Debentures to be prepaid and accompanied by any waiver required by holders of senior indebtedness of the Company for such prepayment (the "Optional Prepayment NoticeOPTIONAL PREPAYMENT NOTICE"), to prepay, all or any portion of the outstanding principal amount of the Debentures which have not previously been repaid or for which Conversion Notices have not previously been delivered. The prepayment price applicable to such prepayments shall equal the Optional Prepayment Price (as defined in Section 7) and shall be paid in cash. Any such prepayment shall be free of any claim of subordination. The Holders shall have the right to tender, and the Company shall honor, Conversion Notices delivered prior to the expiration of the twentieth (20th) Trading Day after receipt by the Holders of an Optional Prepayment Notice for such Debentures (the 20th Trading Day after receipt by the Holders of an Optional Prepayment Notice is referred to herein as the "Optional Prepayment DateOPTIONAL PREPAYMENT DATE").

Appears in 9 contracts

Samples: Kanakaris Communications Inc, Kanakaris Communications Inc, Kanakaris Wireless

Optional Prepayment. (a) The Company shall have the right, exercisable at any time upon twenty (20) Trading Days prior written notice to the Holders of the Debentures to be prepaid and accompanied by any waiver required by holders of senior indebtedness of the Company for such prepayment Holder (the "Optional Prepayment Notice"), to prepay, from funds legally available therefor at the time of such prepayment, all or any portion of the outstanding principal amount of the Debentures which have not previously been repaid or for which Conversion Notices have not previously been delivered. The prepayment delivered hereunder, at a price applicable equal to such prepayments shall equal the Optional Prepayment Price (as defined in Section 7) and shall be paid in cashbelow). Any such prepayment by the Company shall be in cash and shall be free of any claim of subordination. The Holders Holder shall have the right to tender, and the Company shall honor, Conversion Notices delivered prior to the expiration of the twentieth (20th) Trading Day after receipt by the Holders Holder of an Optional Prepayment Notice for such Debentures (the 20th Trading Day after receipt by the Holders of an Optional Prepayment Notice is referred to herein as such date, the "Optional Prepayment Date").

Appears in 7 contracts

Samples: Convertible Debenture Purchase Agreement (Eurotech LTD), Convertible Debenture Purchase Agreement (JNC Opportunity Fund LTD), JNC Opportunity Fund LTD

Optional Prepayment. (a) The Subject to Section 5(b) below, the Company shall have the right, exercisable at any time and from time to time after the Original Issue Date, in accordance with the terms hereof and upon twenty (20) ten Trading Days Days' prior written notice to the Holders of the Debentures to be prepaid and accompanied by any waiver required by holders of senior indebtedness of the Company for such prepayment (the an "Optional Prepayment Notice"), -------------------------- to prepay, prepay all or any portion of the outstanding principal amount of the Debentures which have has not previously been repaid or for which Conversion Notices have not previously been delivered. The prepayment price applicable to such prepayments under this Section 5(a) shall equal the Optional Prepayment Price (as defined in Section 7) and shall be paid in cash. Any such prepayment shall be free of any claim of subordination. The Holders shall have the right to tender, and the Company shall honor, Conversion Notices delivered prior to the expiration of the twentieth (20th) tenth Trading Day after receipt by the Holders of an Optional Prepayment Notice for such Debentures (the 20th tenth Trading Day after receipt by the Holders of an Optional Prepayment Notice is referred to herein as the "Optional Prepayment Date").) ------------------------

Appears in 5 contracts

Samples: Aquatic Cellulose International Corp, Aquatic Cellulose International Corp, Aquatic Cellulose International Corp

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Optional Prepayment. (a) The Company shall have the rightright to prepay, exercisable at any time upon twenty (20) Trading Days days prior written notice to the Holders of the Debentures to be prepaid and accompanied by any waiver required by holders of senior indebtedness of the Company for such prepayment (the "Optional Prepayment Notice"), to prepayfrom funds legally available therefor at the time of such prepayment, all or any portion of the outstanding principal amount of the Debentures which have not previously been repaid or for which Conversion Notices have not previously been delivered. The prepayment delivered hereunder, at a price applicable equal to such prepayments shall equal the Optional Prepayment Price (as defined in Section 7) and shall be paid in cashbelow). Any such prepayment by the Company shall be in cash and shall be free of any claim of subordination. The Holders shall have the right to tender, and the Company shall honor, Conversion Notices delivered prior to the expiration of the twentieth (20th) Trading Day day after receipt by the Holders of an Optional Prepayment Notice for such Debentures (the 20th Trading Day after receipt by the Holders of an Optional Prepayment Notice is referred to herein as such date, the "Optional Prepayment Date").

Appears in 1 contract

Samples: Iat Multimedia Inc

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