Common use of Principal and Interest Payments Clause in Contracts

Principal and Interest Payments. (a) The Company shall repay in full the entire principal balance then outstanding under this Note plus all accrued and unpaid interest on the first to occur (the “Maturity Date”) of: (i) May 29, 2009; (ii) such time as there occurs a Sale Transaction (as defined below) or (iii) the acceleration of the obligations as contemplated by this Note.

Appears in 5 contracts

Samples: Axs One Inc, Axs One Inc, Axs One Inc

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Principal and Interest Payments. (a) The Company shall repay in full the entire principal balance then outstanding under this Note plus all accrued and unpaid interest in the manner provided in Section 1(d) hereof on the first to occur (the “Maturity Date”) of: (i) May 29October 25, 20092007; (ii) such time as there occurs the consummation of a Sale Transaction Qualified Financing (as defined belowin Section 1(d) hereof); or (iii) the acceleration of the obligations as contemplated by this Note. The Company may prepay all or any part of this Note, in whole or in part at any time, as set forth in Section 6(d) hereof.

Appears in 1 contract

Samples: Graymark Productions Inc

Principal and Interest Payments. (a) The Company shall repay in full the entire principal balance then outstanding under this Note plus all accrued and unpaid interest on the first to occur (the "Maturity Date") of: (i) May 29the Payment Date, 2009; or (ii) such time as there occurs a Sale Transaction (as defined below) or (iii) the acceleration of the obligations as contemplated by unpaid principal balance of this Note.Note pursuant to the provisions hereof. As used herein, (a) "

Appears in 1 contract

Samples: Carrington Laboratories Inc /Tx/

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Principal and Interest Payments. (a) The Company shall repay in full the entire principal balance then outstanding under this Note plus all accrued and unpaid interest in the manner provided in Section 1(c) hereof on the first to occur (the “Maturity Date”) of: (i) May 29July 27, 20092007; (ii) such time as there occurs the consummation of a Sale Transaction Qualified Financing (as defined belowin Section 1(c) hereof); or (iii) the acceleration of the obligations as contemplated by this Note. The Company may prepay all or any part of this Note, in whole or in part at any time, as set forth in Section 6(d) hereof.

Appears in 1 contract

Samples: Graymark Productions Inc

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