Repayment of Debenture. In the event of a Subsequent Financing or Subsequent Financings or debt financing, the proceeds of which are in excess of $2,500,000 in the aggregate, the Holder may require the Company to use fifty percent (50%) of such proceeds in excess of $2,500,000 therefrom to repay this Debenture.
Repayment of Debenture. The Company shall pay interest only on the Debenture throughout the term of the Debenture. Subject to the terms of Section 2.8 and if not sooner paid, all unpaid principal amounts, accrued and unpaid interest, and other obligations of the Company to the Holder due and owing under the Debenture shall be paid upon the earliest of (i) the date of acceleration of the Debenture pursuant to Article VII, and (ii) the Maturity Date.
Repayment of Debenture. From the Closing until September 5, 2005, the Company shall pay interest only. Beginning on September 5, 2005 and quarterly thereafter, the Company shall pay the first of eight (8) equal payments of principal and interest in an amount sufficient to fully amortize the outstanding principal balance by the Maturity Date. Subject to the terms of Section 2.7 and if not sooner paid, all unpaid principal amounts, accrued and ----------- unpaid interest, and other obligations of the Company to the Holders due and owing hereunder shall be paid upon the earlier of (i) the date of acceleration of the Debentures pursuant to Article VII, and (ii) the Maturity Date -----------
Repayment of Debenture. Xxxxxxxxxxx Capital Management Corporation, an affiliate of the Purchaser, has previously purchased a $100,000 debenture from certain corporations that will be acquired by the Company. It is hereby agreed that immediately upon Closing, the Purchaser's agent will repay such debenture from the proceeds of this stock purchase and remit the $4,900,000 balance to the Company as full performance of the Purchaser's obligations hereunder.
Repayment of Debenture. 8.1. Subject to section 12 hereof, the Principal Amount shall only be payable to the Debentureholder by the Corporation on the Maturity Date. Upon presentation and delivery of the Debenture to the Corporation at the address indicated in section 16 hereof on or after the Maturity Date, the Corporation shall pay (or cause to be paid to) the Debentureholder by bank transfer, according to the instructions provided by the Debentureholder, an amount equal to the Principal Amount plus any balance of Interest Payable accrued and unpaid at the time.
Repayment of Debenture. Netgateway agrees to repay the full amount (including interest accrued to date thereon) of the Debenture plus a 15% premium with respect to the original principal amount (the "Current Principal Amount") in ten payments. As of the date of this Agreement the Current Principal Amount is $2,972,789.90. An initial payment in the amount of $250,000 (the "Initial Payment") shall be made within five business days of the date this Agreement is executed. A second payment in the amount of $250,000 shall be made on or before February 28, 2001. The remainder of the Current Principal Amount shall be paid in ten equal payments of $247,278.99 beginning on April 10, 2001 and on the tenth day of each successive month except that the tenth payment shall be made on the same date as the ninth payment. Each such payment shall be made with interest accrued through the date of payment at a rate of 8% per annum.
Repayment of Debenture. If the Company incurs any debt, including the issuance of any subordinated debt or convertible debt (other than the Debenture) or any preferred stock having gross proceeds in excess of $500,000, unless otherwise agreed in writing by the Investor or unless such debt is issued to a seller as partial consideration paid to such seller in connection with an Acquisition, the Company will immediately utilize 50% of the proceeds of such issuance to repay the Debenture, if outstanding, unless waived by the Investor.
Repayment of Debenture. (a) After the date on which the United States Securities and Exchange Commission (the “Commission” or the “SEC”) declares the registration statement (the “Registration Statement”) covering the shares underlying the conversion of this Debenture (the “Conversion Shares”) effective (the “Effective Date”), the Holder, at its sole option, shall be entitled to elect to convert a portion of this Debenture pursuant to Article 3 hereof. Nothing contained in this Article 2 shall limit the amount the Holder can elect to convert during a calendar month except as defined in Section 3.2 (i) hereof.
