Prepayment of Note. For so long as no Event of Default shall have occurred and is continuing and the Company is not in receipt of a Notice of Conversion from the Holder of the Note, the Company may, at its option, prepay, in whole or in part, this Convertible Note for a pre-payment price (the "Prepayment Price") equal to (i) 102% of the Principal Amount of the Note, plus all accrued but unpaid interest until the first anniversary of the date of this Convertible Note; and (ii) 101% of the Principal Amount of the Note, plus all accrued and unpaid interest on any day following the first anniversary of this Convertible Note. Any partial prepayment of the Convertible Note, at any time after issuance, shall be credited to the principal amount of the Convertible Note equal to such partial prepayment amount. The Company shall not be entitled to send any notice of prepayment and begin the prepayment procedure unless it has (i) the appropriate Prepayment Price, in cash, available in a demand or other immediately available account in a bank or similar financial institution or (ii) immediately available credit facilities, in the amount of the appropriate Prepayment Price, with a bank or similar financial institution on the date the prepayment notice is sent to the Holders of this Convertible Note. Provided, however, the Company will process any Notice of Conversion received prior to the issuance of a notice of prepayment; and further provided that, after a notice of prepayment has been issued, the Holder may issue a Notice of Conversion which will not be honored unless the Company fails to make the prepayment payment when due. In the event of such failure, the Notice of Conversion will be honored as of the date of the Notice of Conversion
Prepayment of Note. The Company shall have the right to prepay the indebtedness created herein at any time prior to the Maturity Date without penalty. Notice of prepayment is hereby waived by Payee.
Prepayment of Note. This Note may be prepaid in whole or in part at any time without penalty or premium.
Prepayment of Note. The Company may prepay, without penalty or premium, the outstanding principal amount of this Note in whole or in part at any time and from time to time.
Prepayment of Note. No prepayment of the Note may be made except to the extent and in the manner expressly permitted by this Section 2.12.
Prepayment of Note. Upon five days prior written notice to Holder (the “Prepayment Notice”), the Company may prepay this Note in whole or in part; provided that any such prepayment will be applied first to the payment of expenses due under this Note, second to interest accrued on this Note and third, if the amount of prepayment exceeds the amount of all such expenses and accrued interest, to the payment of principal of this Note. In the event that the Holder desires to avoid prepayment of the Note by the Company, the Holder must within five days of its receipt of the Prepayment Notice deliver to the Company the Conversion Notice pursuant to Section 3(c)(iii) electing to convert this Note, in which case this Note will not be prepaid as provided in the Prepayment Notice and will instead be converted into shares of Series E Preferred Stock of the Company in accordance with Section 3 of this Note.
Prepayment of Note. The note shall come due six (6) months from the date above and shall bear a ZERO (0%) interest rate. The Company shall have the right to prepay the indebtedness created herein at any time prior to the maturity of the Note, subject only to the Payees option to convert the Note into equity in the Company as described in paragraph 4 below.
Prepayment of Note. The Borrower shall have the right to prepay, without penalty or premium, any Principal and/or accrued interest due under this Note at any time and from time to time. If Borrower elects to make a prepayment under this Note, then any prepayment of the Principal shall be accompanied by all accrued interest on the amount of Principal being prepaid and the Borrower must simultaneously take the same action in the same proportion with respect to all of the other Notes.
Prepayment of Note. This Note may not be prepaid in full or in part at any time.
Prepayment of Note. At any time, or from time to time, the Company may, at its option, prepay all or any part (in an integral multiple of $1,000,000 or such lesser amount as shall then be outstanding) of this Note.
