Terms of the Note. 3.1. AMOUNT. The principal amount of the Note shall be $500,000.
Terms of the Note. The terms and conditions of the Note are set forth in the form of Note attached as Exhibit A hereto. Capitalized terms not otherwise defined herein shall have the meaning set forth in the Note.
Terms of the Note. The terms and conditions of the Note are set forth in the Note.
Terms of the Note. The terms and conditions of the Note are set forth in the form of Note attached as Appendix B hereto.
Terms of the Note. 2.1 Beginning on the date this Note is issued, this Note shall bear interest at the noncompounded rate of ten percent (10%) per annum on the outstanding principal balance hereof. The Company shall pay all accrued interest thereon on a semi-annual basis, such payments to be made on March 31 and September 30 of each year (each an “Interest Payment Date”) until the earlier of (a) such time as the principal balance of the Note shall be paid in full or (b) the conversion of this Note pursuant to Section 6 hereof. Interest will be computed on the basis of a year of 365 days for the number of days actually elapsed. The Holder may elect, upon written notice to the Company provided at least 30 days prior to each Interest Payment Date, to waive the payment of accrued interest in cash and, instead, to add such accrued interest to the outstanding principal balance of this Note. Each such increase in the outstanding principal balance of this Note shall be effective as of the applicable Interest Payment Date and shall accrue interest pursuant to this Section 2.1. In the absence of a valid election by the Holder, accrued interest will be payable in cash.
Terms of the Note. The Note shall be payable in a single installment of principal due ninety days from the Closing Date. Interest on the Note shall accrue at the lowest rate necessary to avoid the imputation of interest under the Code.
Terms of the Note. The terms and conditions of the Note are set forth in the form of Note attached hereto as Exhibit A. As set forth in the Note, the Note may be converted into shares of Company Common Stock (“Conversion Shares”) in the event it is not repaid by its maturity date.
Terms of the Note. The Note is convertible at $0.20 per share into shares of the Company’s Common Stock at the discretion of the Investor. The Note also automatically converts upon certain trigger events which are described in the Note. The Note is due two years from the date of investment and pays 5% per annum interest. A copy of the Note is attached as Exhibit A to the Term Sheet.
Terms of the Note. The Note shall have the terms (including with respect to payment of principal and interest), rights and remedies as provided in the Indenture and Credit Agreement.
Terms of the Note. (a) Accreted Value, Maturity and Interest. Upon issuance on the Closing Date, the initial Accreted Value of the Note shall be $400,000,000. Subject to Article 8, the Maturity Date of the Note shall be the eighth anniversary of the Closing Date. The Note will accrete at a rate of 10.25% per annum, compounded semi-annually, from and including the Closing Date to and excluding the fourth anniversary of the Closing Date, to an Accreted Value on the fourth anniversary of the Closing Date of $596,634,087. Cash interest on the Accreted Value of the Note will accrue at the rate of 10.25% per annum from and including the fourth anniversary of the Closing Date to and including the Maturity Date, and will be paid by the Company to HCC semiannually in arrears commencing in 2008. Notwithstanding anything to the contrary herein, upon the occurrence of and during the continuation of an Event of Default, the Note will accrete or cash interest will accrue, as applicable, at the rate of 12.25% per annum (the "Default Rate"). Interest will be computed on the basis of a 360-day year of twelve 30-day months. On the Maturity Date, the Company shall pay to HCC the Accreted Value of the Note, plus all accrued and unpaid interest thereon.
