Principal Installment Payments. Commencing on the day that is the six (6) month anniversary of the Issuance Date, the Maker shall pay to the Holder the outstanding Principal Amount hereunder in monthly installments, on such date and each one (1) month anniversary thereof, (each, a “Payment Date”), of Six Hundred Eleven Thousand One Hundred Eleven Dollars ($611,111) (the “Monthly Payments”), subject to Section 3.1 (a) of this Agreement, until the Principal Amount has been paid in full prior to or on the Maturity Date or, if earlier, upon acceleration, conversion or redemption of this Note in accordance with the terms herein. The Monthly Payments shall, at the Maker’s option, be made in (i) cash (ii) Repayment Shares, or (iii) a combination of cash and Repayment Shares; provided that the number of Repayment Shares shall be determined by dividing the Principal Amount plus accrued interest (if any) being paid in shares of Common Stock at the Repayment Share Price; provided, however, that no portion of the Principal Amount may be paid in Repayment Shares unless (A) such Repayment Shares may be immediately resold under Rule 144 without restriction on the number of shares to be sold or manner of sale, or (B) registered for resale under the 1933 Act. The Company must provide advance written notice to the Holder of whether it will elect to pay a Monthly Payment in cash, Repayment Shares or a combination thereof as follows: (i) with respect to the first Monthly Payment, at least thirty (30) days before the Payment Date, and (ii) with respect to each Monthly Payment thereafter, within three (3) Business Days of the prior Payment Date; provided, however, that if no such notice is provided within the timeframes set forth above, such Monthly Payments shall be made in cash.
Principal Installment Payments. Subject to any mandatory prepayment required pursuant to Section 1.3(c)(ii) below, commencing on the day that is the two (2) month anniversary of the Issuance Date, the Maker shall pay to the Holder the outstanding Principal Amount hereunder in monthly installments, on such date and each one (1) month anniversary thereof, as more particularly set forth in Schedule 1 attached hereto (each, a “Payment Date”), of One Million Dollars ($1,000,000) (the “Monthly Payments”), until the Principal Amount has been paid in full prior to or on the Maturity Date or, if earlier, upon acceleration, conversion or redemption of this Note in accordance with the terms herein. The Monthly Payments shall, at the Maker’s option, be made in (i) cash, (ii) Repayment Shares, or (iii) a combination of cash and Repayment Shares; provided that the Maker shall provide the Holder with advance written notice twenty (20) Business Days prior to any Payment Date of its intention to satisfy all or any portion of its Monthly Payment in Repayment Shares, and if the Maker fails to provide any such notice in such timeframe, the Monthly Payment for that Payment Date shall be made in cash; provided further that the number of Repayment Shares shall be determined by dividing the Principal Amount plus accrued interest (if any) being paid in shares of Common Stock at the Repayment Share Price; provided, however, that no portion of the Principal Amount may be paid in Repayment Shares unless (A) such Repayment Shares may be immediately resold under Rule 144 without restriction on the number of shares to be sold or manner of sale, or (B) registered for resale under the 1933 Act. The Monthly Payments may be increased at the Maker’s sole discretion if made in cash, or upon mutual consent of the Maker and the Holder if made by the issuance of the Repayment Shares.
Principal Installment Payments. (a) Commencing on the earlier of (i) the day that is 60 days from the Original Issuance Date and (ii) the date on which the Resale Registration Statement registering the Conversion Shares issuable under this Note and the Warrant Shares issuable under the Warrants issued at the First Tranche Closing (the “First Tranche Warrants”) shall have been declared effective by the SEC, the Maker shall pay to the Holder the Principal Amount hereunder in monthly installments, on such date and each one month anniversary thereof (each, a “Payment Date”), a payment equal to 105% of the total Principal Amount multiplied by the quotient determined by dividing one by the number of months remaining until the Maturity Date as of the initial Payment Date (the “Monthly Payments”), until the Principal Amount has been paid in full prior to or on the Maturity Date or, if earlier, upon acceleration, conversion or redemption of this Note in accordance with the terms herein. The Maker and the Holder agree that all payments made under this Note, including without limitation the provisions of Article 1, shall be subject in all cases to the terms of the Purchase Agreement, including, without limitation, Section 2.4
Principal Installment Payments. Commencing on the day that is one hundred eighty (180) days after the Issuance Date, the Maker shall pay to the Holder the Outstanding Principal Amount hereunder in eighteen (18) monthly installments, on such date and each one (1) month anniversary thereof (each, a "Payment Date" and collectively the "Monthly Payments"), an amount equal to the Outstanding Principal Amount on such Payment Date divided by the number of Monthly Payments remaining, until the Outstanding Principal Amount has been paid in full prior to or on the Maturity Date or, if earlier, upon acceleration, conversion or redemption of this Note in accordance with the terms herein. The Monthly Payments shall be made in cash, in the amount of 102% of such Monthly Payment.
Principal Installment Payments. Commencing on the day that is the six (6) month anniversary of the Original Issuance Date, the Maker shall pay to the Holder the outstanding Principal Amount hereunder in monthly installments (the “Monthly Payments”), on such date and each one (1) month anniversary thereof, as more particularly set forth in Schedule 1 attached hereto (each, a “Payment Date”), until the Principal Amount has been paid in full prior to or on the Maturity Date or, if earlier, upon acceleration, conversion or redemption of this Note in accordance with the terms herein. The Monthly Payments shall, at the Maker’s option, be made in (i) cash, (ii) Repayment Shares, or (iii) a combination of cash and Repayment Shares; provided that the number of Repayment Shares shall be determined by dividing the Principal Amount plus accrued interest (if any) being paid in shares of Common Stock at the Repayment Share Price; provided, however, that no portion of the Principal Amount may be paid in Repayment Shares unless (A) such Repayment Shares may be immediately resold under Rule 144 without restriction on the number of shares to be sold or manner of sale, or (B) registered for resale under the 1933 Act. The Monthly Payments may be increased at the Maker’s sole discretion if made in cash, or upon mutual consent of the Maker and the Holder if made by the issuance of the Repayment Shares.
Principal Installment Payments. The Maker shall pay to the Holder in United States dollars and in immediately available funds the Outstanding Amount on the Maturity Date or, if earlier, upon acceleration, conversion or redemption of this Note in accordance with the terms herein (any date for payment hereunder, whether the Maturity Date or any other date for payment hereunder shall be hereinafter referred to as a “Payment Date”).
Principal Installment Payments. Commencing on the date that is one year from the Issuance Date, the Maker shall pay to the Holder the Outstanding Principal Amount hereunder in twelve
Principal Installment Payments. Commencing on the day after the day that is the four (4) month anniversary of the Issuance Date, the Maker shall pay to the Holder the outstanding Principal Amount hereunder in monthly installments (the “Monthly Payments”) on such date and each (1) month anniversary thereof, as more particularly set forth in Schedule 1 attached hereto (each, a “Payment Date”), until the Principal Amount has been paid in full prior to or on the Maturity Date or, if earlier, upon acceleration, conversion or redemption of this Note in accordance with the terms herein.
Principal Installment Payments. The Maker shall pay to the Holder in United States dollars and in immediately available funds: (i) Nine Hundred Eighteen Thousand Dollars ($918,000) on the day that is the one hundred eighty (180) day anniversary of the Issuance Date (the “First Repayment Date”); (ii) One Million Seventy-One Thousand Dollars ($1,071,000) on the day that is the two hundred seventy (270) day anniversary of the Issuance Date (the “Second Repayment Date” and, together with the First Repayment Date, each a “Payment Date”); and (iii) the remaining Outstanding Amount on the Maturity Date or, if earlier, upon acceleration, conversion or redemption of this Note in accordance with the terms herein.
Principal Installment Payments. Commencing on the day that is the seven (7) month anniversary of the Issuance Date, the Maker shall pay to the Holder the outstanding Principal Amount hereunder in monthly installments (the “Monthly Payments”) on such date and each (1) month anniversary thereof, as more particularly set forth in Schedule 1 attached hereto (each, a “Payment Date”), until the Principal Amount has been paid in full prior to or on the Maturity Date or, if earlier, upon acceleration, conversion or redemption of this Note in accordance with the terms herein.
