Common use of Payment/Maturity Date Clause in Contracts

Payment/Maturity Date. The entire principal amount hereunder, including any accrued and unpaid interest thereon shall be due and payable in full on July 21, 2025 (the “Maturity Date”), or such earlier date as this Note is required or permitted to be repaid as provided hereunder (the Company’s “Repayment Obligation”); provided, notwithstanding the foregoing, that the Company shall be entitled to satisfy its Repayment Obligation on the Maturity Date by any one of the following three methods: (i) paying the Holder the full amount of outstanding principal amount of this Note, together with any accrued and unpaid interest thereon, in cash on the Maturity Date; (ii) paying the Holder $2,000,000 in cash and issuing the Holder a SAFE in the principal amount of $2,000,000 in the form annexed as Exhibit D to the Settlement Agreement (as defined in Section 22 below) on the Maturity Date; or (iii) issuing the Holder a Convertible Note in the principal amount of $4,500,000 in the form annexed as Exhibit E to the Settlement Agreement on the Maturity Date (the delivery by the Company of all items described in either one of the foregoing clauses (ii) or (iii), respectively, shall be referred to herein as an “Alternative Payment Method”). All payments due hereunder (to the extent not converted into Conversion Shares (as defined below) in accordance with the terms hereof) shall be made in lawful money of the United States of America in accordance with such instructions as the Holder shall provide to the Company by written notice made in accordance with the provisions of this Note.