Common use of Optional Repayment Clause in Contracts

Optional Repayment. (“Optional Redemption”). At the Company’s option and upon thirty (30) days’ notice to the Holder (the “Optional Redemption Notice”), the Note may be redeemed at any time at an amount equal to one hundred and twenty-five percent (125%) of the outstanding Principal and accrued and unpaid Interest (the “Optional Redemption Price”). Such notice shall specify the date of such Optional Redemption (the “Optional Redemption Date”). The foregoing notwithstanding, the Holder may convert any or all of this Note into shares of Common Stock pursuant to the terms of this Section 3 at any time the Note remains outstanding.

Optional Repayment. (“Optional Redemption”). At the Company’s option and upon thirty (30) days’ notice to the Holder (the “Optional Redemption Notice”)Holder, the Note may be redeemed at any time at an amount equal to one hundred and twenty-five percent (125%) of the outstanding Principal and accrued and unpaid Interest (the “Optional Redemption Price”). Such notice shall specify the date of such Optional Redemption (the “Optional Redemption Date”). The foregoing notwithstanding, the Holder may convert any or all of this Note into shares of Common Stock pursuant to the terms of this Section 3 at any time the Note remains outstandingtime.