Common use of Repayment of Interest and Principal Clause in Contracts

Repayment of Interest and Principal. Except as otherwise provided herein, the Company will repay the outstanding principal amount of this Note within fourteen (14) Business Days of the Offering Funding Date (the “Maturity Date”). This Note does not bear interest. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such funds shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

Repayment of Interest and Principal. Except as otherwise provided herein, the Company will repay the outstanding principal amount of this Note within fourteen (14) 14 Business Days of the Offering Funding Date (the “Maturity Date”), together with all accrued interest thereon. This Note does not bear interestshall accrue interest at an annual rate equal to the Applicable Rate from the date of this Note until the 90th day after the date of this Note. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such funds fund shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.