New York Uses in Business Day; Payments Clause

Business Day; Payments from Convertible Note

FOR VALUE RECEIVED, the undersigned, LIGHTING SCIENCE GROUP CORPORATION, a Delaware corporation (Borrower), promises to pay to the order of PEGASUS PARTNERS IV, L.P., a Delaware limited partnership (Lender), the sum of THIRTY TWO MILLION EIGHT HUNDRED FORTY SIX THOUSAND SIX HUNDRED NINETEEN DOLLARS AND TWO CENTS ($32,846,619.02) or so much thereof as may be outstanding hereunder, together with interest.

Business Day; Payments. As used herein, (a) Business Day means any day other than Saturday, Sunday or other day on which the Federal Reserve Bank of New York is closed and (b) Nonbusiness Day means every day that is not a Business Day. The principal of, or accrued interest on, this Note shall be due and payable in lawful money of the United States of America, in New York, New York at the office of Lender, 505 Park Avenue, 21st Floor, New York, New York 10022, in funds which are or will be available for immediate use by Lender at such office at or before 12:00 p.m., Eastern time (daylight or standard, as applicable) on the day payment hereof is due. In any case where a payment of principal or interest hereon is due on a Nonbusiness Day, Borrower shall be entitled to delay such payment until the next succeeding Business Day, but interest shall continue to accrue until the payment is, in fact, made.

Business Day; Payments from Promissory Note

FOR VALUE RECEIVED, the undersigned, LIGHTING SCIENCE GROUP CORPORATION, a Delaware corporation (Borrower), promises to pay to the order of PEGASUS PARTNERS IV, L.P., a Delaware limited partnership (Lender), the sum of FIVE HUNDRED THOUSAND DOLLARS ($500,000) or so much thereof as may be outstanding hereunder, together with interest.

Business Day; Payments. As used herein, (a) Business Day means any day other than Saturday, Sunday or other day on which the Federal Reserve Bank of New York is closed and (b) Nonbusiness Day means every day that is not a Business Day. The principal of, or accrued interest on, this Note shall be due and payable in lawful money of the United States of America, in New York, New York at the office of Lender, 505 Park Avenue, 21st Floor, New York, New York 10022, in funds which are or will be available for immediate use by Lender at such office at or before 12:00 p.m., Eastern time (daylight or standard, as applicable) on the day payment hereof is due. In any case where a payment of principal or interest hereon is due on a Nonbusiness Day, Borrower shall be entitled to delay such payment until the next succeeding Business Day, but interest shall continue to accrue until the payment is, in fact, made.

Business Day; Payments from Promissory Note

FOR VALUE RECEIVED, the undersigned, LIGHTING SCIENCE GROUP CORPORATION, a Delaware corporation (Borrower), promises to pay to the order of PEGASUS PARTNERS IV, L.P., a Delaware limited partnership (Lender), the sum of TWO MILLION DOLLARS ($2,000,000) or so much thereof as may be outstanding hereunder, together with interest.

Business Day; Payments. As used herein, (a) Business Day means any day other than Saturday, Sunday or other day on which the Federal Reserve Bank of New York is closed and (b) Nonbusiness Day means every day that is not a Business Day. The principal of, or accrued interest on, this Note shall be due and payable in lawful money of the United States of America, in New York, New York at the office of Lender, 505 Park Avenue, 21st Floor, New York, New York 10022, in funds which are or will be available for immediate use by Lender at such office at or before 12:00 p.m., Eastern time (daylight or standard, as applicable) on the day payment hereof is due. In any case where a payment of principal or interest hereon is due on a Nonbusiness Day, Borrower shall be entitled to delay such payment until the next succeeding Business Day, but interest shall continue to accrue until the payment is, in fact, made.

Business Day; Payments from Promissory Note

FOR VALUE RECEIVED, the undersigned, LIGHTING SCIENCE GROUP CORPORATION, a Delaware corporation (Borrower), promises to pay to the order of PEGASUS PARTNERS IV, L.P., a Delaware limited partnership (Lender), the sum of SEVEN MILLION DOLLARS ($7,000,000) or so much thereof as may be outstanding hereunder, together with interest.

Business Day; Payments. As used herein, (a) Business Day means any day other than Saturday, Sunday or other day on which the Federal Reserve Bank of New York is closed and (b) Nonbusiness Day means every day that is not a Business Day. The principal of, or accrued interest on, this Note shall be due and payable in lawful money of the United States of America, in New York, New York at the office of Lender, 505 Park Avenue, 21st Floor, New York, New York 10022, in funds which are or will be available for immediate use by Lender at such office at or before 12:00 p.m., Eastern time (daylight or standard, as applicable) on the day payment hereof is due. In any case where a payment of principal or interest hereon is due on a Nonbusiness Day, Borrower shall be entitled to delay such payment until the next succeeding Business Day, but interest shall continue to accrue until the payment is, in fact, made.

Business Day; Payments from Promissory Note

FOR VALUE RECEIVED, the undersigned, LIGHTING SCIENCE GROUP CORPORATION, a Delaware corporation (Borrower), promises to pay to the order of PEGASUS PARTNERS IV, L.P., a Delaware limited partnership (Lender), the sum of ONE MILLION NINE HUNDRED FIFTY THOUSAND DOLLARS ($1,950,000) or so much thereof as may be outstanding hereunder, together with interest.

Business Day; Payments. As used herein, (a) Business Day means any day other than Saturday, Sunday or other day on which the Federal Reserve Bank of New York is closed and (b) Nonbusiness Day means every day that is not a Business Day. The principal of, or accrued interest on, this Note shall be due and payable in lawful money of the United States of America, in New York, New York at the office of Lender, 505 Park Avenue, 21st Floor, New York, New York 10022, in funds which are or will be available for immediate use by Lender at such office at or before 12:00 p.m., Eastern time (daylight or standard, as applicable) on the day payment hereof is due. In any case where a payment of principal or interest hereon is due on a Nonbusiness Day, Borrower shall be entitled to delay such payment until the next succeeding Business Day, but interest shall continue to accrue until the payment is, in fact, made.