Common use of Payments of Interest and Principal Clause in Contracts

Payments of Interest and Principal. Interest on the borrowed outstanding principal balance under this Note shall be payable quarterly, commencing on the first banking day of each quarter, including credit for an October 1, 2008 payment, and a January 1, 2009 payment, and thereafter, until the Maturity Date (each, an “Interest Date”); provided however, the first payments, otherwise due under the August 22, 2008 Superseding Note on October 1, 2008, and otherwise due on January 1, 2009, will be added to principal and treated as paid but reborrowed under the terms hereof.

Appears in 10 contracts

Samples: AccessKey IP, Inc., AccessKey IP, Inc., AccessKey IP, Inc.

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Payments of Interest and Principal. Interest on the borrowed outstanding principal balance under this Note shall be payable quarterlymonthly, commencing on the first banking day of each quarter, including credit for an October 1, 2008 paymentApril 2010, and a January 1, 2009 payment, and thereafter, on the first business day of each calendar month thereafter until the Maturity Date (each, an “Interest Date”); provided however, the first payments, otherwise due under the August 22, 2008 Superseding Note on October 1, 2008, and otherwise due on January 1, 2009, will be added to principal and treated as paid but reborrowed under the terms hereof.

Appears in 1 contract

Samples: AccessKey IP, Inc.

Payments of Interest and Principal. Interest on the borrowed outstanding principal balance under this Note shall be payable quarterly, commencing on the first banking day of each quarter, including credit for an commencing on October 1, 2008 payment, and a January 1, 2009 payment2008, and thereafter, until the Maturity Date (each, an "Interest Date"); provided however, the first payments, otherwise due under the August 22, 2008 Superseding Note on October 1, 2008, and otherwise due on January 1, 2009, will be added to principal and treated as paid but reborrowed under the terms hereof.

Appears in 1 contract

Samples: AccessKey IP, Inc.

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Payments of Interest and Principal. Interest and principal on the borrowed outstanding principal balance under this Note shall be payable quarterly, commencing on the first banking day of each quarter, including credit for an October 1, 2008 payment, and a January 1, 2009 payment, and thereafter, until the Maturity Date (each, an “Interest Date”); provided however, the first payments, otherwise due under the August 22, 2008 Superseding Note on October 1, February 2008, and otherwise due on January 1, 2009, will be added to the first business day of each month thereafter until the Debenture is no longer outstanding. Each monthly payment shall consist of 1/12th of the original principal amount of this Debenture and treated as paid all accrued but reborrowed under the terms hereofunpaid interest.

Appears in 1 contract

Samples: Secured Convertible Note Agreement (AccessKey IP, Inc.)

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