Common use of Payment of Monthly Amount in Cash or Common Stock Clause in Contracts

Payment of Monthly Amount in Cash or Common Stock. Subject to the terms hereof, the Company shall have the sole option to determine whether to satisfy payment of the Monthly Amount on each Amortization Date either in cash or in shares of the Company’s Class A common stock, no par value per share (the “Common Stock”), or a combination of both. Each month, ten (10) days prior to an Amortization Date, the Company may deliver to the Holder a written irrevocable notice in the form of Exhibit A attached hereto electing to pay the Monthly Amount payable on the next Amortization Date in either cash or Common Stock, or a combination of both (each, a “Repayment Election Notice”) (the date by which such notice is required to be given being hereinafter referred to as the “Notice Date”). If a Repayment Election Notice is not delivered to the Holder by the Company by the applicable Notice Date for such Amortization Date, then the Monthly Amount due on such Amortization Date shall be paid in cash. If the Company elects to repay all or a portion of the Monthly Amount in shares of Common Stock, the number of such shares to be issued for such Amortization Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the Fixed Conversion Price (as defined below).

Payment of Monthly Amount in Cash or Common Stock. Subject Each month by the fifth (5th) business day prior to the terms hereof, the Company shall have the sole option to determine whether to satisfy payment of the Monthly Amount on each Amortization Date either in cash or in shares of the Company’s Class A common stock, no par value per share (the “Common StockNotice Date”), or a combination of both. Each month, ten (10) days prior to an Amortization Date, the Company may Holder shall deliver to the Holder Borrower a written irrevocable notice in the form of Exhibit A B attached hereto electing (each, a “Repayment Notice”) stating whether, according to pay the Conversion Criteria (as defined below), the Monthly Amount payable on the next Amortization Date shall be paid in either cash or Common Stock, or a combination of both (each, a “Repayment Election Notice”) (the date by which such notice is required to be given being hereinafter referred to as the “Notice Date”)both. If a Repayment Election Notice is not delivered to by the Holder by the Company by on or before the applicable Notice Date for such Amortization Date, then Borrowers shall pay the Monthly Amount due on such Amortization Date shall be paid in cash. If the Company elects to repay all or a Any portion of the Monthly Amount paid in shares cash on an Amortization Date, shall be paid to the Holder in an amount equal to 103% of Common Stock, the such amount. The number of such shares to be issued for by Txxxxx Equipment to the Holder on such Amortization Date (in respect of such portion of the Monthly Amount converted into in shares of Common Stock pursuant to Section 2.1(b)), shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in converted into shares of Common Stock, by (y) the then applicable Fixed Conversion Price (as defined below)Price.

Payment of Monthly Amount in Cash or Common Stock. Subject to the terms hereof, the Company Borrower shall have the sole option to determine whether to satisfy payment of the Monthly Amount on each Amortization Repayment Date either in cash or in shares of Common Stock (as defined in the Company’s Class A common stock, no par value per share (the “Common Stock”Purchase Agreement), or a combination of both. Each month, ten month by the tenth (1010th) days day prior to an Amortization the Repayment Date, the Company may Borrower shall deliver to the Holder a written irrevocable notice in the form of Exhibit A B attached hereto electing to pay the Monthly Amount payable on the next Amortization Repayment Date in either cash or Common Stock, or a combination of both (each, a “Repayment Election Notice”) (the date by which such notice is required to be given being hereinafter referred to as the “Notice Date”). If a Repayment Election Notice is not delivered to the Holder by the Company by the applicable Notice Date for such Amortization Repayment Date, then the Monthly Amount due on such Amortization Repayment Date shall be paid in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder in an amount equal to 102% of the cash portion of the Monthly Amount then payable in satisfaction of such obligation. If the Company elects to repay Borrower repays all or a portion of the Monthly Amount in shares of Common Stock, the number of such shares to be issued for such Amortization Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the Fixed Conversion Price (as defined below)Price. For purposes hereof, the “Fixed Conversion Price” means $3.16.

Payment of Monthly Amount in Cash or Common Stock. Subject to the terms hereof, the Company Holder shall have the sole option to determine whether to satisfy elect to accept payment of the Monthly Amount on each Amortization Repayment Date either in cash or in shares of Common Stock (as defined in the Company’s Class A common stock, no par value per share (the “Common Stock”Purchase Agreement), or a combination of both. Each month, ten month by the fifth (105th) days business day prior to an each Amortization Date (the “Notice Date”), the Company may Holder shall deliver to the Holder Borrower a written irrevocable notice in the form of Exhibit A B attached hereto electing to pay convert the Monthly Amount payable on the next Amortization Repayment Date in either cash or Common Stock, or a combination of both (each, a “Repayment Election Notice”) (the date by which such notice is required to be given being hereinafter referred to as the “Notice Date”). If a Repayment Election Notice is not delivered to by the Holder by the Company by on or before the applicable Notice Date for such Amortization Repayment Date, then the Borrower shall pay the Monthly Amount due on such Amortization Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid in cashto the Holder an amount equal to 102% of the principal portion of the Monthly Amount due and owing to Holder on the Repayment Date. If the Company elects to repay Holder converts all or a portion of the Monthly Amount in shares of Common Stock, the number of such shares to be issued for by the Borrower to the Holder on such Amortization Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price (as defined below)Price. For purposes hereof, the initial “Fixed Conversion Price” means $1.17.

Payment of Monthly Amount in Cash or Common Stock. Subject to the terms hereof, the Company Borrower shall have the sole option to determine whether to satisfy payment of the Monthly Amount on each Repayment Date and Amortization Date either in cash or in shares of Common Stock (as defined in the Company’s Class A common stock, no par value per share (the “Common Stock”Purchase Agreement), or a combination of both. Each On or before the tenth (10th) day of each month, ten (10) days prior to an Amortization Date, the Company may Borrower shall deliver to the Holder a written irrevocable notice in the form of Exhibit A B attached hereto electing to pay the Monthly Amount payable on the next Amortization Repayment Date in either cash or Common Stock, or a combination of both (each, a “Repayment Election Notice”) (the date by which such notice is required to be given being hereinafter referred to as the “Notice Date”). If a Repayment Election Notice is not delivered to the Holder by the Company by the applicable Notice Date for such Amortization Repayment Date, then the Monthly Amount due on such Amortization Repayment Date shall be paid in cash. The portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder and shall be equal to (x) 100% of the principal part of such portion of the Monthly Amount plus (y) any accrued and unpaid interest thereon. If the Company elects to repay Borrower repays all or a portion of the Monthly Amount in shares of Common Stock, the number of such shares to be issued for such Amortization Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the Fixed Conversion Price Price. For purposes hereof, the “Fixed Conversion Price” means $0.62 (which has been determined on the date of this Note as defined belowan amount equal to 100% of the volume weighted average closing price for the five (5) trading days immediately prior to the date of this Note), as adjusted from time to time in accordance with Section 3.4.

Payment of Monthly Amount in Cash or Common Stock. Subject to the terms hereof, the Company Borrower shall have the sole option to determine whether to satisfy payment of the Monthly Amount on each Amortization Repayment Date either in cash or in shares of Common Stock (as defined in the Company’s Class A common stock, no par value per share (the “Common Stock”Purchase Agreement), or a combination of both. Each month, ten (10) days month by the day prior to an Amortization such Repayment Date, the Company may Borrower shall deliver to the Holder a written irrevocable notice in the form of Exhibit A B attached hereto electing to pay the Monthly Amount payable on the next Amortization Repayment Date in either cash or Common Stock, or a combination of both (each, a “Repayment Election Notice”) (the date by which such notice is required to be given being hereinafter referred to as the “Notice Date”). If a Repayment Election Notice is not delivered to the Holder by the Company by the applicable Notice Date for such Amortization Repayment Date, then the Monthly Amount due on such Amortization Repayment Date shall be paid in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder an amount equal to (x) 101% of the principal portion of the Monthly Amount plus (y) any accrued and unpaid interest in satisfaction of such obligation. If the Company elects to repay Borrower repays all or a portion of the Monthly Amount in shares of Common Stock, the number of such shares to be issued for such Amortization Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the Fixed Conversion Price Price. For purposes hereof, the “Fixed Conversion Price” means $ (which has been determined on the date of this Note as defined belowan amount equal to 110% of the average closing price for the ten (10) trading days immediately prior to the date of this Note).

Payment of Monthly Amount in Cash or Common Stock. Subject to the terms hereof, the Company Holder shall have the sole option to determine whether to satisfy elect to accept payment of the Monthly Amount on each Amortization Repayment Date either in cash or in shares of Common Stock (as defined in the Company’s Class A common stock, no par value per share (the “Common Stock”Purchase Agreement), or a combination of both. Each month, ten month by the tenth (1010th) days business day prior to an each Amortization Date (the “Notice Date”), the Company may Holder shall deliver to the Holder Borrower a written irrevocable notice in the form of Exhibit A B attached hereto electing to pay convert the Monthly Amount payable on the next Amortization Repayment Date in either cash or Common Stock, or a combination of both (each, a “Repayment Election Notice”) (the date by which such notice is required to be given being hereinafter referred to as the “Notice Date”). If a Repayment Election Notice is not delivered to by the Holder by the Company by on or before the applicable Notice Date for such Amortization Repayment Date, then the Borrower shall pay the Monthly Amount due on such Amortization Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid in cashto the Holder an amount equal to 102% of the principal portion of the Monthly Amount due and owing to Holder on the Repayment Date. If the Company elects to repay Holder converts all or a portion of the Monthly Amount in shares of Common Stock, the number of such shares to be issued for by the Borrower to the Holder on such Amortization Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price (as defined below)Price. For purposes hereof, the initial “Fixed Conversion Price” means $2.61 .

Payment of Monthly Amount in Cash or Common Stock. Subject Not later than the fifth (5th) business day prior to the terms hereof, the Company shall have the sole option to determine whether to satisfy payment of the Monthly Amount on each Amortization Repayment Date either in cash or in shares of the Company’s Class A common stock, no par value per share (the “Common StockNotice Date”), or a combination of both. Each month, ten (10) days prior to an Amortization Date, the Company Holder may deliver to the Holder Borrower a written irrevocable notice in the form of Exhibit A B attached hereto electing directing the Borrower to pay the Monthly Amount payable on the next Amortization Repayment Date in either cash or Common Stock, or a combination of both (each, a “Repayment Election Notice”) (the date by which such notice is required to be given being hereinafter referred to as the “Notice Date”). If a Repayment Election Notice is not delivered to by the Holder by the Company by on or before the applicable Notice Date for such Amortization Repayment Date, then then, subject to Section 2.1(b), the Borrower shall pay the Monthly Amount due on such Amortization Repayment Date shall be paid in cash. If In the Company elects event the Borrower shall be required to repay all or a pay any portion of the Monthly Amount in respect of principal in cash, the Borrower shall pay to the Holder in respect to such payment an amount equal to 101% of such principal amount. If the Holder elects to convert all or a portion of any Monthly Amount into shares of Common StockStock as provided herein, the number of such shares to be issued for by the Borrower to the Holder on such Amortization Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial “Fixed Conversion Price” means $0.40. [To be filled in on Closing Date and equal to 102% of the average closing price for the ten (10) trading days immediately prior to the date of this Note, provided however, that the Fixed Conversion Price (as defined below)shall not exceed 105% of the closing price of the Common Stock on the trading day prior to the date hereof].

Payment of Monthly Amount in Cash or Common Stock. Subject to the terms hereof, the Company Borrower shall have the sole option to determine whether to satisfy payment of the Monthly Amount on each Amortization Repayment Date either in cash or in shares of Common Stock (as defined in the Company’s Class A common stock, no par value per share (the “Common Stock”Purchase Agreement), or a combination of both. Each month by the twentieth (20th) day of such month, ten (10) days prior to an Amortization Date, the Company may Borrower shall deliver to the Holder a written irrevocable notice in the form of Exhibit A B attached hereto electing to pay the Monthly Amount payable on the next Amortization Repayment Date in either cash or Common Stock, or a combination of both (each, a “Repayment Election Notice”) (the date by which such notice is required to be given being hereinafter referred to as the “Notice Date”). If a Repayment Election Notice is not delivered to the Holder by the Company by the applicable Notice Date for such Amortization Repayment Date, then the Monthly Amount due on such Amortization Repayment Date shall be paid in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder an amount equal to (x) 102% of the principal portion of the Monthly Amount plus (y) any accrued and unpaid interest in satisfaction of such obligation. If the Company elects to repay Borrower repays all or a portion of the Monthly Amount in shares of Common Stock, the number of such shares to be issued for such Amortization Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the Fixed Conversion Price Price. For purposes hereof, the “Fixed Conversion Price” means $2.88 (which has been determined on the date of this Note as defined belowan amount equal to the average closing price for the ten (10) trading days immediately prior to the date of this Note).

Payment of Monthly Amount in Cash or Common Stock. Subject to the terms hereof, the Company Borrower shall have the sole option to determine whether to satisfy payment of the Monthly Amount on each Amortization Repayment Date either in cash or in shares of Common Stock (as defined in the Company’s Class A common stock, no par value per share (the “Common Stock”Purchase Agreement), or a combination of both. Each month by the twentieth (20th) day of such month, ten (10) days prior to an Amortization Date, the Company may Borrower shall deliver to the Holder a written irrevocable notice in the form of Exhibit A B attached hereto electing to pay the Monthly Amount payable on the next Amortization Repayment Date in either cash or Common Stock, or a combination of both (each, a “Repayment Election Notice”) (the date by which such notice is required to be given being hereinafter referred to as the “Notice Date”). If a Repayment Election Notice is not delivered to the Holder by the Company by the applicable Notice Date for such Amortization Repayment Date, then the Monthly Amount due on such Amortization Repayment Date shall be paid in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder an amount equal to (x) 102% of the principal portion of the Monthly Amount plus (y) any accrued and unpaid interest in satisfaction of such obligation. If the Company elects to repay Borrower repays all or a portion of the Monthly Amount in shares of Common Stock, the number of such shares to be issued for such Amortization Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the Fixed Conversion Price Price. For purposes hereof, the “Fixed Conversion Price” means $3.39 (which has been determined on the date of this Note as defined belowan amount equal to 105% of the average closing price for the ten (10) trading days immediately prior to the date of this Note).

Payment of Monthly Amount in Cash or Common Stock. Subject Each month by the fifth (5th) business day prior to the terms hereof, the Company shall have the sole option to determine whether to satisfy payment of the Monthly Amount on each Amortization Date either in cash or in shares of the Company’s Class A common stock, no par value per share (the “Common StockNotice Date”), or a combination of both. Each month, ten (10) days prior to an Amortization Date, the Company may Holder shall deliver to the Holder Borrower a written irrevocable notice in the form of Exhibit A B attached hereto electing to pay converting the Monthly Amount payable on the next Amortization Repayment Date in either cash or Common Stock, or a combination of both (each, a “Repayment Election Notice”) (the date by which such notice is required to be given being hereinafter referred to as the “Notice Date”). If a Repayment Election Notice is not delivered to by the Holder by the Company by on or before the applicable Notice Date for such Amortization Repayment Date, then the Borrower shall pay the Monthly Amount due on such Amortization Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid in cashto the Holder an amount equal to 102% of the principal portion of the Monthly Amount due and owing to Holder on the Repayment Date. If the Company elects to repay Holder converts all or a portion of the Monthly Amount in shares of Common StockStock as provided herein, the number of such shares to be issued for by the Borrower to the Holder on such Amortization Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price Price. For purposes hereof, the initial “Fixed Conversion Price” means $______ (which has been determined on the date of this Note as defined belowan amount equal to 105% of the average closing price for the ten (10) trading days immediately prior to the date of this Note).

Payment of Monthly Amount in Cash or Common Stock. Subject to the terms hereof, the Company Borrower shall have the sole option to determine whether to satisfy payment of the Monthly Amount on each Amortization Repayment Date either in cash or in shares of Common Stock (as defined in the Company’s Class A common stock, no par value per share (the “Common Stock”Purchase Agreement), or a combination of both. Each month by the tenth (10th) day of such month, ten (10) days prior to an Amortization Date, the Company may Borrower shall deliver to the Holder a written irrevocable notice in the form of Exhibit A B attached hereto electing to pay the Monthly Amount payable on the next Amortization Repayment Date in either cash or Common Stock, or a combination of both (each, a “"Repayment Election Notice”") (the date by which such notice is required to be given being hereinafter referred to as the “"Notice Date”"). If a Repayment Election Notice is not delivered to the Holder by the Company by the applicable Notice Date for such Amortization Repayment Date, then the Monthly Amount due on such Amortization Repayment Date shall be paid in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder an amount equal to (x) 103% of the principal portion of the Monthly Amount plus (y) any accrued and unpaid interest in satisfaction of such obligation. If the Company elects to repay Borrower repays all or a portion of the Monthly Amount in shares of Common Stock, the number of such shares to be issued for such Amortization Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the Fixed Conversion Price Price. For purposes hereof, the "Fixed Conversion Price" means $0.40. (as defined belowb).

Payment of Monthly Amount in Cash or Common Stock. Subject Each month by the fifth (5th) business day prior to the terms hereof, the Company shall have the sole option to determine whether to satisfy payment of the Monthly Amount on each Amortization Repayment Date either in cash or in shares of the Company’s Class A common stock, no par value per share (the “Common StockNotice Date”), or a combination of both. Each month, ten (10) days prior to an Amortization Date, the Company may Holder shall deliver to the Holder Borrower a written irrevocable notice in the form of Exhibit A B attached hereto electing (each, a “Repayment Notice”) stating whether, according to pay the Conversion Criteria (as defined below), the Monthly Amount payable on the next Amortization Repayment Date shall be paid in either cash or Common Stock, or a combination of both (each, a “Repayment Election Notice”) (the date by which such notice is required to be given being hereinafter referred to as the “Notice Date”)both. If a Repayment Election Notice is not delivered to by the Holder by the Company by on or before the applicable Notice Date for such Amortization Repayment Date, then the Borrower shall pay the Monthly Amount due on such Amortization Repayment Date shall be paid in cash. If the Company elects to repay all or a Any portion of the Monthly Amount paid in shares cash on a Repayment Date, shall be paid to the Holder in an amount equal to 102% of Common Stock, the such amount. The number of such shares to be issued for by the Borrower to the Holder on such Amortization Repayment Date (in respect of such portion of the Monthly Amount converted into in shares of Common Stock pursuant to Section 2.1(b)), shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in converted into shares of Common Stock, by (y) the then applicable Fixed Conversion Price (as defined below)Price. For purposes hereof, the initial “Fixed Conversion Price” means $1.35.

Payment of Monthly Amount in Cash or Common Stock. Subject to paragraph (b) each month by the terms hereof, the Company shall have the sole option fifth (5th) business day prior to determine whether to satisfy payment of the Monthly Amount on each Amortization Repayment Date either in cash or in shares of the Company’s Class A common stock, no par value per share (the “Common StockNotice Date”), or a combination of both. Each month, ten (10) days prior to an Amortization Date, the Company may Holder shall deliver to the Holder Borrower a written irrevocable notice in the form of Exhibit A B attached hereto electing (each, a “Repayment Notice”) stating whether, according to pay the Conversion Criteria (as defined below), the Monthly Amount payable on the next Amortization Repayment Date shall be paid in either cash or Common Stock, or a combination of both (each, a “Repayment Election Notice”) (the date by which such notice is required to be given being hereinafter referred to as the “Notice Date”)both. If a Repayment Election Notice is not delivered to by the Holder by the Company by on or before the applicable Notice Date for such Amortization Repayment Date, then the Borrower shall pay the Monthly Amount due on such Amortization Repayment Date shall be paid in cash. If the Company elects to repay all or a Any portion of the Monthly Amount paid in shares cash on a Repayment Date, shall be paid to the Holder in an amount equal to 102% of Common Stock, the such amount. The number of such shares to be issued for by the Borrower to the Holder on such Amortization Repayment Date (in respect of such portion of the Monthly Amount converted into in shares of Common Stock pursuant to Section 2.1(b)), shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in converted into shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial “Fixed Conversion Price” means $1.87 (which has been determined on the date of this Note as an amount equal to 107% of the average closing price for the twenty two (22) trading days immediately prior to the date of this Note) provided, however, that the Fixed Conversion Price (as defined below)set on the date hereof shall not exceed $2.10 or be less than $1.80.

Payment of Monthly Amount in Cash or Common Stock. Subject Each month by the fifth (5th) business day prior to the terms hereof, the Company shall have the sole option to determine whether to satisfy payment of the Monthly Amount on each Amortization Date either in cash or in shares of the Company’s Class A common stock, no par value per share (the “Common StockNotice Date”), or a combination of both. Each month, ten (10) days prior to an Amortization Date, the Company may Holder shall deliver to the Holder Borrower a written irrevocable notice in the form of Exhibit A B attached hereto electing to pay convert the Monthly Amount payable on the next Amortization Repayment Date in either cash or Common Stock, or a combination of both (each, a “Repayment Election Notice”) (the date by which such notice is required to be given being hereinafter referred to as the “Notice Date”). If a Repayment Election Notice is not delivered to by the Holder by the Company by on or before the applicable Notice Date for such Amortization Repayment Date, then the Borrower shall pay the Monthly Amount due on such Amortization Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid in cashto the Holder an amount equal to 101% of the principal portion of the Monthly Amount due and owing to Holder on the Repayment Date. If the Company elects to repay Holder converts all or a portion of the Monthly Amount in shares of Common Stock, the number of such shares to be issued for by the Borrower to the Holder on such Amortization Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price (as defined below)Price. For purposes hereof, the initial “Fixed Conversion Price” means $1.79.

Payment of Monthly Amount in Cash or Common Stock. Subject to the terms hereof, the Company Borrower shall have the sole option to determine whether to satisfy payment of the Monthly Amount on each Amortization Repayment Date either in cash or in shares of Common Stock (as defined in the Company’s Class A common stock, no par value per share (the “Common Stock”Purchase Agreement), or a combination of both. Each month, ten month by the tenth (1010th) days day prior to an Amortization the Repayment Date, the Company may Borrower shall deliver to the Holder a written irrevocable notice in the form of Exhibit A B attached hereto electing to pay the Monthly Amount payable on the next Amortization Repayment Date in either cash or Common Stock, or a combination of both (each, a “Repayment Election Notice”) (the date by which such notice is required to be given being hereinafter referred to as the “Notice Date”). If a Repayment Election Notice is not delivered to the Holder by the Company by the applicable Notice Date for such Amortization Repayment Date, then the Monthly Amount due on such Amortization Repayment Date shall be paid in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder in an amount equal to 102% of the cash portion of the Monthly Amount then payable in satisfaction of such obligation. If the Company elects to repay Borrower repays all or a portion of the Monthly Amount in shares of Common Stock, the number of such shares to be issued for such Amortization Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the Fixed Conversion Price (as defined below)Price. For purposes hereof, the “Fixed Conversion Price” means $ 3.16.

Payment of Monthly Amount in Cash or Common Stock. Subject to the terms hereof, the Company Borrower shall have the sole option to determine whether to satisfy payment of the Monthly Amount on each Amortization Repayment Date either in cash or in shares of Common Stock (as defined in the Company’s Class A common stock, no par value per share (the “Common Stock”Purchase Agreement), or a combination of both. Each month by the twentieth (20th) day of such month, ten (10) days prior to an Amortization Date, the Company may Borrower shall deliver to the Holder a written irrevocable notice in the form of Exhibit A B attached hereto electing to pay the Monthly Amount payable on the next Amortization Repayment Date in either cash or Common Stock, or a combination of both (each, a “Repayment Election Notice”) (the date by which such notice is required to be given being hereinafter referred to as the “Notice Date”). If a Repayment Election Notice is not delivered to the Holder by the Company by the applicable Notice Date for such Amortization Repayment Date, then the Monthly Amount due on such Amortization Repayment Date shall be paid in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder an amount equal to (x) 102% of the principal portion of the Monthly Amount plus (y) any accrued and unpaid interest in satisfaction of such obligation. If the Company elects to repay Borrower repays all or a portion of the Monthly Amount in shares of Common Stock, the number of such shares to be issued for such Amortization Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the Fixed Conversion Price (as defined below)Price. For purposes hereof, the “Fixed Conversion Price” means $3.15.

Payment of Monthly Amount in Cash or Common Stock. Subject Each month by the fifth (5th) business day prior to the terms hereof, the Company shall have the sole option to determine whether to satisfy payment of the Monthly Amount on each Amortization Date either in cash or in shares of the Company’s Class A common stock, no par value per share (the “Common StockNotice Date”), or a combination of both. Each month, ten (10) days prior to an Amortization Date, the Company may Holder shall deliver to the Holder Borrower a written irrevocable notice in the form of Exhibit A B attached hereto electing to pay convert the Monthly Amount payable on the next Amortization Repayment Date in either cash or Common Stock, or a combination of both (each, a “Repayment Election Notice”) (the date by which such notice is required to be given being hereinafter referred to as the “Notice Date”). If a Repayment Election Notice is not delivered to by the Holder by the Company by on or before the applicable Notice Date for such Amortization Repayment Date, then the Borrower shall pay the Monthly Amount due on such Amortization Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder in cashan amount equal to 101% of the principal portion of the Monthly Amount due and owing to Holder on the Repayment Date. If the Company elects to repay Holder converts all or a portion of the Monthly Amount in shares of Common Stock, the number of such shares to be issued for by the Borrower to the Holder on such Amortization Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price (as defined below)Price. For purposes hereof, the initial “Fixed Conversion Price” means $0.23 [100% of the average closing price for the 3 trading days immediately preceding the Closing Date].