Common use of Principal Curtailment Clause in Contracts

Principal Curtailment. The principal reduction due date shall be extended from January 1, 2012, to March 31, 2012. On or before March 31, 2012 (the “Curtailment Date”), the Borrower shall pay a principal curtailment in the sum of Ten Million Dollars ($10,000,000.00) (the “Principal Curtailment”) in cash by wire transfer of immediately available funds. Notwithstanding the Curtailment Date, the Borrower agrees to pay the full Principal Curtailment amount prior to the Curtailment Date within three (3) business days after the later of (i) the date that the Borrower completes an equity raise sufficient to enable the Principal Curtailment and (ii) the date that regulatory approval is provided. If the Borrower fails to satisfy the full Principal Curtailment on or before March 31, 2012, the Loan shall become immediately due and payable.

Principal Curtailment. The principal reduction due date shall be extended from April 16, 2011 to January 1, 2012, to March 31, 2012. On or before March 31, 2012 (the “Curtailment Date”), the Borrower shall pay a principal curtailment in the sum of Ten Million Dollars ($10,000,000.00) (the “Principal Curtailment”) on or before January 1, 2012, in cash by wire transfer of immediately available funds. Notwithstanding the this extended Principal Curtailment Datedue date, the Borrower agrees to pay the full Principal Curtailment amount prior to the Curtailment Date within three (3) business days after the later of (i) the date that January 1, 2012 due date, at such time the Borrower completes an equity raise sufficient to enable the Principal Curtailment and (ii) the date that regulatory approval is provided, if such approval occurs prior to the Principal Curtailment due date. If the Borrower fails to satisfy the full Principal Curtailment on or before March 31January 1, 2012, the Loan loan shall become immediately due and payable.