Common use of Payment of Interest in Cash or Kind Clause in Contracts

Payment of Interest in Cash or Kind. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Note at the rate of 12% per annum, payable on the 1st day of each month or if such day is not a Business Day on the next Business day, payable monthly or on each Conversion Date and on the Maturity Date in cash or, at the Company’s option, in duly authorized, validly issued, fully paid and non-assessable shares of Common Stock or a combination thereof; provided that the Company shall not pay interest in Common Stock prior to the Listing Date.

Payment of Interest in Cash or Kind. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Note Debenture at the rate of 1210% per annum, payable on the 1st day of each month or if such day is not a Business Day on the next Business day, payable monthly or on each Conversion Date (as to that principal amount then being converted), and on the Maturity Date (each such date, an “Interest Payment Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash or, at the CompanyHolder’s option, in duly authorized, validly issued, fully paid and non-assessable shares of Common Stock or a combination thereof; provided that the Company shall not pay interest in Common Stock prior to the Listing DateStock.

Payment of Interest in Cash or Kind. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Note at the rate of 12% per annum, payable on the 1st 15th day of or each month or of if such day is not a Business Day on the next Business day, payable monthly or on each Conversion Date and on the Maturity Date in cash or, at the CompanyHolder’s option, in duly authorized, validly issued, fully paid and non-assessable shares of Common Stock or a combination thereof; provided that the Company shall not pay interest in Common Stock prior to the Listing Date.

Payment of Interest in Cash or Kind. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Note Debenture at the rate of 1210% per annum, payable on the 1st day of each month or if such day is not a Business Day on the next Business day, payable monthly or on each Conversion Date (as to that principal amount then being converted), and on the Maturity Date (each such date, an "Interest Payment Date") (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash or, at the Company’s Holder's option, in duly authorized, validly issued, fully paid and non-assessable shares of Common Stock or a combination thereof; provided that the Company shall not pay interest in Common Stock prior to the Listing DateStock.

Payment of Interest in Cash or Kind. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Note at the rate of 1210% per annum, which interest shall be guaranteed, payable on the 1st day of each month or if such day is not a Business Day on the next Business day, payable monthly or on each Conversion Date and on the Maturity Date in cash or, at the Company’s option, in duly authorized, validly issued, fully paid and non-assessable shares of Common Stock or a combination thereof; provided that the Company shall not pay interest in Common Stock prior to the Listing Date.