Minimum Monthly Principal Payments. Amortizing payments of the aggregate principal amount outstanding under this Note at any time (the “Principal Amount”) shall begin on December 1, 2004 and shall recur on the first business day of each succeeding month thereafter until the Maturity Date (each, an “Amortization Date”). Subject to Article 3 below, beginning on the first Amortization Date, the Borrower shall make monthly payments to the Holder on each Repayment Date, each in the amount of $187,500, together with any accrued and unpaid interest to date on such portion of the Principal Amount plus any and all other amounts which are then owing under this Note, the Purchase Agreement or any other Related Agreement but have not been paid (collectively, the “Monthly Amount”). Any Principal Amount that remains outstanding on the Maturity Date shall be due and payable on the Maturity Date.
Minimum Monthly Principal Payments. Amortizing payments of the outstanding principal amount of this Note not contained in the Restricted Account (as defined in the Restricted Account Agreement) shall begin on March 1, 2005 and shall recur on each succeeding Repayment Date thereafter until the Amortizing Principal Amount has been repaid in full, whether by the payment of cash or by the conversion of such principal into Common Stock pursuant to the terms hereof. Subject to Section 2.1 and Article 3 below, on each Repayment Date, the Borrower shall make payments to the Holder in the amount of (x) $8,333 for each Repayment Date beginning on March 1, 2005 and ending September 1, 2005, and (y) $10,417 for Repayment Dates beginning on October1, 2005 and ending August 31, 2007, respectively (the foregoing clauses (x) and (y), each a "Monthly Principal Amount"), together with any accrued and unpaid interest then due on such portion of the Amortizing Principal Amount plus any and all other amounts which are then owing under this Note that have not been paid (the Monthly Principal Amount, together with such accrued and unpaid interest and such other amounts, collectively, the "Monthly Amount"); provided that, following a release of an amount of funds from the Restricted Account (as defined in the Restricted Account Agreement) for the purposes set forth in the Restricted Account Side Letter (other than with respect to a release that occurs as a result of a conversion of any Principal Amount) (each, a "Release Amount") each Monthly Principal Amount due on any Repayment Date occurring three (3) or more calendar months following any such release shall be increased by an amount equal to (x) 60% of such Release Amount divided by (y) the sum of (I) the number of Repayment Dates that exist following the date that is three (3) or more calendar months following any such release (including, without limitation, the Maturity Date) plus (II) one (1). Any Principal Amount that remains outstanding on the Maturity Date shall be due and payable on the Maturity Date.
Minimum Monthly Principal Payments. Amortizing payments of the outstanding Principal Xxxxxx and interest of this Note shall commence on the third month anniversary date of this Note and on the same day of each month thereafter (each a “Repayment Date”) until the Principal Amount and interest have been repaid in full, whether by the payment of cash or by the conversion of such Principal amount and interest into Common Stock pursuant to the terms hereof. Subject to Section 2.1 and Article 3 below, on each Repayment Date the Borrower shall make payments to the Holder in the amount of 4.76 percent of the initial Principal Amount, all interest accrued on the Note as of the Repayment Date and any other amounts which are then owing under this Note that have not been paid (collectively, the "Monthly Amount"). All payments of cash or amounts converted into Common Stock pursuant to this Note by the Holder or Borrower shall be applied first against outstanding fees and damages, then against accrued interest on the Principal Amount and then to Principal Amounts of not yet due Monthly Amounts commencing with the Monthly Amount next payable and then Monthly Amounts thereafter in reverse chronological order. Any Principal Amount, interest and any other sum arising under the Transaction Documents that remains outstanding on the Maturity Date shall be due and payable on the Maturity Date.
Minimum Monthly Principal Payments. Amortizing payments of the outstanding Principal Amount of this Note shall commence on the first (1st) Repayment Date and shall recur on each succeeding Repayment Date thereafter until the Principal Amount has been repaid in full, whether by the payment of cash or by the conversion of such principal into Common Stock pursuant to the terms hereof. Subject to Section 2.1 and Article 3 below, on each Repayment Date, the Borrower shall make payments to the Holder in the amount of one-thirty-second (1/32nd) of the initial Principal Amount (the "Monthly Principal Amount"), together with any accrued and unpaid interest then due on such portion of the Principal Amount plus any and all other amounts which are then owing under this Note that have not been paid (the Monthly Principal Amount, together with such accrued and unpaid interest and such other amounts, collectively, the "Monthly Amount"). Amounts of conversions of Principal Amount made by the Holder or Borrower pursuant to Section 2.1 or Article III, and Redemption Amounts (as defined in Section
Minimum Monthly Principal Payments. Amortizing payments of the aggregate principal amount outstanding under this Note at any time (the "PRINCIPAL AMOUNT") shall begin on February 1, 2004 and shall recur on the first calendar day of each succeeding month thereafter until the Maturity Date (each, an "AMORTIZATION DATE"). Subject to Section 3.4 below, beginning on the first Amortization Date, the Borrower shall make monthly payments to the Holder on each Repayment Date, each in the amount of $63,636.36, together with any accrued and unpaid interest to date on such portion of the Principal Amount plus any and all other amounts which are then owing under this Note but have not been paid (collectively, the "MONTHLY AMOUNT").
Minimum Monthly Principal Payments. Amortizing payments of the aggregate principal amount outstanding under this Note at any time (the “Principal Amount”) shall begin on October 1, 2004 and shall recur on the first calendar day of each succeeding month thereafter until the Maturity Date (each, an “Amortization Date”) as set forth in the table below: Date Principal Amount Date Principal Amount 10/1/04 $15,000 1/1/06 $50,000 11/1/04 $15,000 2/1/06 $50,000 12/1/04 $25,000 3/1/06 $50,000 1/1/05 $25,000 4/1/06 $50,000 2/1/05 $25,000 5/1/06 $50,000 3/1/05 $25,000 6/1/06 $60,000 4/1/05 $25,000 7/1/06 $60,000 5/1/05 $25,000 8/1/06 $60,000 6/1/05 $50,000 9/1/06 $60,000 7/1/05 $50,000 10/1/06 $60,000 8/1/05 $50,000 11/1/06 $60,000 9/1/05 $50,000 12/1/06 $60,000 10/1/05 $50,000 1/1/07 $60,000 11/1/05 $50,000 2/1/07 $60,000 12/1/05 $50,000 3/1/07 $60,000 4/1/07 $60,000 5/1/07 $60,000 Subject to Section 3 below, beginning on the first Amortization Date, the Borrower shall make monthly payments to the Holder on each Repayment Date, each in the amount set forth above, together with any accrued and unpaid interest to date on such portion of the Principal Amount plus any and all other amounts which are then owing under this Note but have not been paid (collectively, the “Monthly Amount”).
Minimum Monthly Principal Payments. Amortizing payments of the outstanding principal amount of this Note shall commence on the fourth monthly anniversary of the Original Issue Date and on the same day of each month thereafter (each a “Principal Repayment Date”) until the principal amount has been repaid in full, whether by the payment of cash or by the conversion of such principal amount into Common Stock pursuant to the terms hereof. On each Repayment Date, the Borrower shall make payments to the Holder in an amount equal to 6.67% of the initial principal amount, (the “Monthly Principal Amount”). Amounts of conversions of principal amount made by the Holder or Borrower pursuant to Section 4 and amounts paid pursuant to Section 6 of this Note shall be applied first against outstanding fees and damages, then against outstanding already payable accrued interest and then to principal amounts of not yet due Monthly Principal Amounts commencing with the last Monthly Principal Amount next payable and thereafter to Monthly Principal Amounts in reverse chronological order. Any principal amount, interest and any other sum arising under this Note and the Transaction Documents that remains outstanding on the Maturity Date shall be due and payable on the Maturity Date. Borrower may elect to pay the Monthly Principal Amount with shares of Common Stock or a combination of cash and shares of Common Stock (the amount to be paid in shares of Common Stock, “Principal Share Amount”) subject to the following conditions. The Principal Share Amount will be determined by dividing (i) the monthly principal amount by (ii) ninety percent (90%) of the VWAP of the Common Stock for the five (5) Trading Days commencing eight (8) days prior to the relevant Repayment Date and ending on the fourth (4th) Trading Day preceding such Repayment Date; provided, however, that notwithstanding the foregoing, the result of the calculation pursuant to this clause (ii) shall not be less than twenty percent (20%) of the Conversion Price on the Original Issue Date (subject to appropriate adjustments for stock splits, stock dividends, recapitalizations, reclassifications, combinations or other similar transactions after the Issuance Date) (the “Conversion Price Floor”); provided, further, however, that the result of the calculation pursuant to this clause (ii) can be reduced below the Conversion Price Floor if the Borrower is not then subject to Nasdaq Listing Rule 5635(d) or if approved by the Trading Market. Bxxxxxxx further agrees that...
Minimum Monthly Principal Payments. Amortizing payments of the aggregate principal amount outstanding under this Note at any time (the "Principal Amount") shall begin on September 1, 2004 and shall recur on the first calendar day of each succeeding month thereafter until the Maturity Date (each, an "Amortization Date"). Subject to Section 3 below, beginning on the first Amortization Date, the Borrower shall make monthly payments to the Holder on each Repayment Date, each in the amount of $33,333.00 (the "Monthly Amortization"), together with any accrued and unpaid interest to date on such portion of the Principal Amount plus any and all other amounts which are then owing under this Note but have not been paid (collectively, the "Monthly Amount"). From April 1, 2005 through March 1, 2007, the Monthly Amortization shall be increased to $41,667.00.
Minimum Monthly Principal Payments. Amortizing payments of the aggregate principal amount outstanding under this Note at any time (the “Principal Amount”) shall begin on January 1, 2006 and shall recur on the first calendar day of each succeeding month thereafter until the Maturity Date (each, an “Amortization Date”) as set forth in the table below: Date Principal Amount Date Principal Amount 2/1/06 $15,000 4/1/07 $55,200 3/1/06 $15,000 5/1/07 $55,200 4/1/06 $15,000 6/1/07 $55,200 5/1/06 $15,000 7/1/07 $55,200 6/1/06 $15,000 8/1/07 $55,200 7/1/06 $15,000 9/1/07 $55,200 8/1/06 $15,000 10/1/07 $55,200 9/1/06 $55,200 11/1/07 $55,200 10/1/06 $55,200 12/1/07 $55,200 11/1/06 $55,200 1/1/08 $55,200 12/1/06 $55,200 2/1/08 $55,200 1/1/07 $55,200 3/1/08 $55,200 2/1/07 $55,200 4/1/08 $55,200 5/1/08 $55,200 6/1/08 $55,200 7/1/08 $55,200 8/1/08 $55,200 9/1/08 $55,200 Subject to Section 3 below, beginning on the first Amortization Date, the Borrower shall make monthly payments to the Holder on each Repayment Date, each in the amount set forth above, together with any accrued and unpaid interest to date on such portion of the Principal Amount plus any and all other amounts which are then owing under this Note but have not been paid (collectively, the “Monthly Amount”). All payments hereunder shall be paid by wire transfer of immediately available funds to the account designated by the Holder in a written notice delivered to the Borrower at least three business days in advance of the Repayment Date.
Minimum Monthly Principal Payments. Amortizing payments of the aggregate principal amount outstanding under this Note at any time (the "PRINCIPAL AMOUNT") shall begin on July 1, 2004 and shall recur on the first calendar day of each succeeding month thereafter until the Maturity Date (each, an "AMORTIZATION DATE") as set forth in the table below: ------------------------------- ---------------------------- ---------------------------- ---------------------------- Date Principal Amount Date Principal Amount ------------------------------- ---------------------------- ---------------------------- ---------------------------- 7/1/04 $25,000 10/1/05 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 8/1/04 $25,000 11/1/05 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 9/1/04 $25,000 12/1/05 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 10/1/04 $25,000 1/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 11/1/04 $25,000 2/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 12/1/04 $25,000 3/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 1/1/05 $25,000 4/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 2/1/05 $25,000 5/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 3/1/05 $25,000 6/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 4/1/05 $45,000 7/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 5/1/05 $45,000 8/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 6/1/05 $45,000 9/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 7/1/05 $45,000 10/1/06 $55833.33 ------------------------------- ----------------------...
