CONVERSION REPAYMENT. 2.1. (a) Payment of Monthly Amount in Cash or Common Stock. If the Monthly Amount (or a portion thereof of such Monthly Amount if such portion of the Monthly Amount could have been converted into shares of Common Stock but for Section 3.2) is required to be paid in cash pursuant to Section 2.1(b), then the Borrower shall pay the Holder an amount equal to 103% of the Monthly Amount due and owing to the Holder on the Repayment Date in cash. If the Monthly Amount (or a portion of such Monthly Amount if not all of the Monthly Amount may be converted into shares of Common Stock pursuant to Section 3.2) is required to be paid in shares of Common Stock pursuant to Section 2.1(b), the number of such shares to be issued by the Borrower to the Holder on such Repayment Date (in respect of such portion of the Monthly Amount converted into shares of Common Stock pursuant to Section 2.1(b)), shall be the number determined by dividing (x) the portion of the Monthly Amount converted into shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "Fixed Conversion Price" means $0.125.
CONVERSION REPAYMENT. 2.1 (a) Payment of Monthly Amount in Cash or Common Stock. Each month by the tenth (10th) business day prior to each Amortization Date (the "Notice Date"), the Holder shall deliver to Borrower a written notice in the form of Exhibit B attached hereto converting the Monthly Amount payable on the next Repayment Date in either cash or Common Stock, or a combination of both (each, a "Repayment Notice"). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder an amount equal to 103% of the principal portion of the Monthly Amount due and owing to Holder on the Repayment Date. If the Holder converts all or a portion of the Monthly Amount in shares of Common Stock as provided herein, the number of such shares to be issued by the Borrower to the Holder on such Repayment Date shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "Fixed Conversion Price" means $3.00.
CONVERSION REPAYMENT. 2.1 Payment of Monthly Amount in Cash or Common Stock. (a) If the Monthly Amount is required to be paid in shares of Common Stock (as defined below) pursuant to Section 2.1(b), each month by the fifth (5th) business day prior to each Amortization Date (the "NOTICE DATE"), the Holder shall, subject to Section 2.2 below and the other provisions of this Note, deliver to Borrower a written notice in the form of Exhibit B attached hereto converting the Monthly Amount payable on the next Amortization Date or Repayment Date, as the case may be, into freely tradable unrestricted shares of common stock of EPXR ("EPXR Common Stock") or, following the satisfaction of each of the conditions set forth in clause (i) of Section 2.2 below, into freely tradable unrestricted shares of common stock of VOXX ("VOXX Common Stock") (EPXR Common Stock and VOXX Common Stock, collectively, the "Common Stock")(each, a "REPAYMENT NOTICE"). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Amortization Date (or is not required to be delivered in accordance with Section 2.1(b)), then the Borrower shall pay the Monthly Amount due on such Amortization Date in cash. Any portion of the Monthly Amount paid in cash on an Amortization Date or Repayment Date, as the case may be, shall be paid to the Holder in an amount equal to 102% of the principal portion of the Monthly Amount otherwise due and owing to Holder on such Amortization Date or Repayment Date. If the Holder converts all or a portion of the Monthly Amount in shares of Common Stock as provided herein, the number of such shares to be issued by the Borrower to the Holder on such Amortization Date or Repayment Date, as the case may be, shall be the number determined by dividing (x) the portion of the Monthly Amount to be paid in shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the "FIXED CONVERSION PRICE" shall, subject to further adjustment as provided herein, mean (x) in the case of a conversion into EPXR Common Stock, $1.00 and (y) in the case of a conversion into VOXX Common Stock on or after the date of the consummation of an initial public offering of the VOXX Common Stock (the "VOXX IPO Date"), a price equal to 85% of the offering price of the VOXX Common Stock on the VOXX IPO Date (after giving effect thereto).
CONVERSION REPAYMENT. 2.1 (a) PAYMENT OF MONTHLY AMOUNT IN CASH OR COMMON STOCK. Each month by the fifth (5th) business day prior to each Repayment Date (the "NOTICE DATE"), the Holder shall deliver to Borrower a written notice in the form of Exhibit B attached hereto (each, a "REPAYMENT NOTICE") stating whether, according to the Conversion Criteria (as defined below), the Monthly Amount payable on the next Repayment Date shall be paid in cash or Common Stock, or a combination of both. If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then the Borrower shall pay the Monthly Amount due on such Repayment Date in cash. Any portion of the Monthly Amount paid in cash on a Repayment Date, shall be paid to the Holder in an amount equal to 102% of such amount. The number of such shares to be issued by the Borrower to the Holder on such Repayment Date (in respect of such portion of the Monthly Amount converted into in shares of Common Stock pursuant to Section 2.1(b)), shall be the number determined by dividing (x) the portion of the Monthly Amount converted into shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "FIXED CONVERSION PRICE" means $1.35.
CONVERSION REPAYMENT. 2.1. (a)
CONVERSION REPAYMENT. 2.1 (a) Payment of Monthly Amount in Cash or Common Stock. If the Monthly Amount (or a portion thereof of such Monthly Amount if such portion of the Monthly Amount would have been converted into shares of Common Stock but for Section 3.2) is required to be paid in cash pursuant to Section 2.1(b), then the Borrower shall pay the Holder the Monthly Amount due on such Repayment Date in cash. If the Monthly Amount (or a portion of such Monthly Amount if not all of the Monthly Amount may be converted into shares of Common Stock pursuant to Section 3.2) is required to be paid in shares of Common Stock pursuant to Section 2.1(b), the number of such shares to be issued by the Borrower to the Holder on such Repayment Date (in respect of such portion of the Monthly Amount converted into in shares of Common Stock pursuant to Section 2.1(b)), shall be the number determined by dividing (x) the Monthly Amount converted into shares of Common Stock, by (y) the then applicable Fixed Conversion Price. For purposes hereof, the initial "FIXED CONVERSION PRICE" means $3.00.
CONVERSION REPAYMENT. 4.1. Upon Closing, the Loan and any accrued Interest shall be deemed paid by the Lender as part of the Purchase Price to be paid at the Closing and shall no longer be outstanding.
CONVERSION REPAYMENT. 2.1 (a) Payment of Monthly Amount in Cash or Common Stock. If the Monthly Amount (or a portion thereof of such Monthly Amount if such portion of the Monthly Amount would have been converted into shares of Common Stock but for Section 3.2) is required to be paid in cash pursuant to Section 2.1(b), then the Borrower shall pay the Holder an amount equal to 102% of the Monthly Amount due and owing to the Holder on the Repayment Date in cash. If the Monthly Amount (or a portion of such Monthly Amount if not all of the Monthly Amount may be converted into shares of Common Stock pursuant to Section 3.2) is required to be paid in shares of
CONVERSION REPAYMENT. 2.1 Payment of Monthly Amount in Cash or Common Stock. Each calendar month by the tenth (10th) business day prior to each Repayment Date (the "Notice Date"), the Borrower, at its election, may deliver to the Holder a written notice in the form to be provided by the Holder converting the Monthly Amount payable on the next Repayment Date in either cash or Common Stock, or a combination of both (each, a "Repayment Notice"): provided, however, that payment in shares of Common Stock may only occur if during the 10 Trading Days immediately prior to the applicable Repayment Date all of the Equity Conditions have been met and the payment in shares of Common Stock would not exceed 25% of the volume for any of the previous 10 Trading Days. For the purposes of this Section 2.1, "
CONVERSION REPAYMENT. 2.1 (a) Payment of Monthly Amount in Cash or Common Stock. Each month by ------------------------------------------------- the fifth (5th) business day prior to each Amortization Date (the "NOTICE DATE"), the Holder shall deliver to Borrower a written notice in the form of Exhibit B attached hereto converting the Monthly Amount payable on the next Repayment Date in either cash or Common Stock, or a combination of both (each, a "REPAYMENT NOTICE"). If a Repayment Notice is not delivered by the Holder on or before the applicable Notice Date for such Repayment Date, then the Borrower shall pay the Monthly
