Minimum Monthly Principal Payments. Amortizing payments of the aggregate principal amount outstanding under this Note at any time (the “Principal Amount”) shall begin on December 1, 2004 and shall recur on the first business day of each succeeding month thereafter until the Maturity Date (each, an “Amortization Date”). Subject to Article 3 below, beginning on the first Amortization Date, the Borrower shall make monthly payments to the Holder on each Repayment Date, each in the amount of $187,500, together with any accrued and unpaid interest to date on such portion of the Principal Amount plus any and all other amounts which are then owing under this Note, the Purchase Agreement or any other Related Agreement but have not been paid (collectively, the “Monthly Amount”). Any Principal Amount that remains outstanding on the Maturity Date shall be due and payable on the Maturity Date.
Minimum Monthly Principal Payments. Amortizing payments of the outstanding principal amount of this Note not contained in the Restricted Account (as defined in the Restricted Account Agreement) shall begin on May 1, 2005 and shall recur on each succeeding Repayment Date thereafter until the Amortizing Principal Amount has been repaid in full, whether by the payment of cash or by the conversion of such principal into Common Stock pursuant to the terms hereof. Subject to Section 2.1 and Article 3 below, on each Repayment Date, the Company shall make payments to the Purchaser in the amount of $83,333.33 (the "MONTHLY PRINCIPAL AMOUNT"), together with any accrued and unpaid interest then due on such portion of the Amortizing Principal Amount plus any and all other amounts which are then due and owing under this Note that have not been paid (the Monthly Principal Amount, together with such accrued and unpaid interest and such other amounts, collectively, the "MONTHLY AMOUNT"); provided that, following a release of an amount of funds from the Restricted Account (as defined in the Restricted Account Agreement) for the purposes set forth in the Restricted Account Side Letter (other than with respect to a release that occurs as a result of a conversion of any Principal Amount) (each, a "RELEASE AMOUNT") each Monthly Principal Amount due on any Repayment Date following any such release shall be increased by an amount equal to (x) such Release Amount divided by (y) the sum of (I) the number of Repayment Dates remaining until the Maturity Date plus (II) one (1). Any Principal Amount that remains outstanding on the Maturity Date shall be due and payable on the Maturity Date.
Minimum Monthly Principal Payments. Amortizing payments of the outstanding Principal Xxxxxx and interest of this Note shall commence on the third month anniversary date of this Note and on the same day of each month thereafter (each a “Repayment Date”) until the Principal Amount and interest have been repaid in full, whether by the payment of cash or by the conversion of such Principal amount and interest into Common Stock pursuant to the terms hereof. Subject to Section 2.1 and Article 3 below, on each Repayment Date the Borrower shall make payments to the Holder in the amount of 4.76 percent of the initial Principal Amount, all interest accrued on the Note as of the Repayment Date and any other amounts which are then owing under this Note that have not been paid (collectively, the "Monthly Amount"). All payments of cash or amounts converted into Common Stock pursuant to this Note by the Holder or Borrower shall be applied first against outstanding fees and damages, then against accrued interest on the Principal Amount and then to Principal Amounts of not yet due Monthly Amounts commencing with the Monthly Amount next payable and then Monthly Amounts thereafter in reverse chronological order. Any Principal Amount, interest and any other sum arising under the Transaction Documents that remains outstanding on the Maturity Date shall be due and payable on the Maturity Date.
Minimum Monthly Principal Payments. Amortizing payments of the outstanding principal amount of this Note shall begin on September __, 2005 and shall recur on each succeeding Repayment Date thereafter through and including the Maturity Date until the Amortizing Principal Amount has been repaid in full, whether by the payment of cash or by the conversion of such principal into Common Stock pursuant to the terms hereof. Subject to Section 2.1 and Article 3 below, on each Repayment Date, the Company shall make payments to the Purchaser in the amount of $176,923.08 (the "Monthly Principal Amount"), together with any accrued and unpaid interest then due on such portion of the Amortizing Principal Amount plus any and all other amounts which are then due and owing under this Note that have not been paid (the Monthly Principal Amount, together with such accrued and unpaid interest and such other amounts, collectively, the "Monthly Amount"). Any outstanding Principal Amount together with any accrued and unpaid interest and any and all other unpaid amounts which are then owing by the Company to the Holder under this Note, the Purchase Agreement and/or any other Related Agreement shall be due and payable on the Maturity Date.
Minimum Monthly Principal Payments. Amortizing payments of the aggregate principal amount outstanding under this Note at any time (the "Principal Amount") shall begin on July 1, 2004 and shall recur on the first calendar day of each succeeding month thereafter until the Maturity Date (each, an "Amortization Date"). Subject to Section 3.4 below, beginning on the first Amortization Date, the Borrower shall make monthly payments to the Holder on each Repayment Date, each in the amount of $22,727.27, together with any accrued and unpaid interest to date on such portion of the Principal Amount plus any and all other amounts which are then owing under this Note but have not been paid (collectively, the "Monthly Amount").
Minimum Monthly Principal Payments. Amortizing payments of the aggregate principal amount outstanding under this Note at any time (the “Principal Amount”) shall begin on June 1, 2004 and shall recur on the first calendar day of each succeeding month thereafter until the Maturity Date (each, an “Amortization Date”) as set forth in the table below: Date Principal Amount Date Principal Amount 6/1/04 $50,000 9/1/05 $75,000 71/04 $50,000 10/1/05 $75,000 8/1/04 $50,000 11/1/05 $75,000 9/1/04 $50,000 12/1/05 $75,000 10/1/04 $50,000 1/1/06 $75,000 11/1/04 $50,000 2/1/06 $75,000 12/1/04 $50,000 3/1/06 $75,000 1/1/05 $50,000 4/1/06 $75,000 2/1/05 $50,000 5/1/06 $75,000 3/1/05 $75,000 6/1/06 $75,000 4/1/05 $75,000 7/1/06 $75,000 5/1/05 $75,000 8/1/06 $75,000 6/1/05 $75,000 9/1/06 $75,000 7/1/05 $75,000 10/1/06 $75,000 8/1/05 $75,000 11/1/06 $75,000 12/1/06 $75,000 1/1/07 $75,000 2/1/07 $75,000 3/1/07 $500,000 Subject to Section 3 below, beginning on the first Amortization Date, the Borrower shall make monthly payments to the Holder on each Repayment Date, each in the amount set forth above, together with any accrued and unpaid interest to date on such portion of the Principal Amount plus any and all other amounts which are then owing under this Note but have not been paid (collectively, the “Monthly Amount”).
Minimum Monthly Principal Payments. Amortizing payments of the ----------------------------------- outstanding Principal Amount and interest of this Note shall commence on the earlier of the Actual Effective Date (as defined in Section 11.1(iv) of the Subscription Agreement), or the ninety-first (91st) day after the Issue Date and on the same day of each month thereafter (each a "Repayment Date") until the Principal Amount has been repaid in full, whether by the payment of cash or by the conversion of such principal into Common Stock pursuant to the terms hereof. Subject to Section 2.1 and Article 3 below, on each Repayment Date, the Borrower shall make payments to the Holder equal to the initial Principal Amount the quotient of the number of days from the first Repayment Date until the Maturity Date divided by 30, together with any other amounts which are then owing under this Note that have not been paid (collectively, the "Monthly Amount"). In addition to the regular payment of the Monthly Amount, additional payments (each an "Interim Payment") will be required to be made at the written election of the Holder (a form of which is annexed hereto) for each and every day (each a "Determination Date") the total reported dollar volume of the Common Stock exceeds $100,000 ("Liquidity Benchmark"). The amount of each Interim Payment will be determined by multiplying the Fixed Principal Portion by a fraction the numerator of which is the total reported dollar volume of the Common Stock on a Determination Date and the denominator of which is the Liquidity Benchmark. The Holder must give written notice to the Borrower within two business days after a Determination Date of Holder's election to receive an Interim Payment. If such notice is xxxxn, the Holder may elect to receive and the Borrower must pay or deliver either (i) cash on the third business day following the date notice is given, or (ii) Common Stock valued at eighty-five percent (85%) of the weighted average volume price of the Common Stock using the AQR function as reported by Bloomberg L.P. ("VWAP") for the five (5) trading days preceding the date notice is given by the Holder of the demand for an Interim Payment. If the Holder elects to receive Common Stock in satisfaction of an Interim Payment, then the date of the Holder's notice shall be deemed a Conversion Date and the Common Stock must be delivered in the same manner and under the same conditions as required in connection with a Notice of Conversion. All payments of cash or amounts ...
Minimum Monthly Principal Payments. Amortizing payments of the aggregate principal amount outstanding under this Note at any time (the "Principal Amount") shall begin on September 1, 2004 and shall recur on the first calendar day of each succeeding month thereafter until the Maturity Date (each, an "Amortization Date"). Subject to Section 3 below, beginning on the first Amortization Date, the Borrower shall make monthly payments to the Holder on each Repayment Date, each in the amount of $33,333.00 (the "Monthly Amortization"), together with any accrued and unpaid interest to date on such portion of the Principal Amount plus any and all other amounts which are then owing under this Note but have not been paid (collectively, the "Monthly Amount"). From April 1, 2005 through March 1, 2007, the Monthly Amortization shall be increased to $41,667.00.
Minimum Monthly Principal Payments. Amortizing payments of the aggregate principal amount outstanding under this Note at any time (the "PRINCIPAL AMOUNT") shall begin on October 1, 2004 and shall recur on the first calendar day of each succeeding month thereafter until the Maturity Date (each, an "AMORTIZATION DATE") as set forth in the table below: DATE PRINCIPAL AMOUNT DATE PRINCIPAL AMOUNT ------- ------- ------- ------- 10/1/04 $20,000 12/1/05 $73,600 11/1/04 $20,000 1/1/06 $73,600 12/1/04 $20,000 2/1/06 $73,600 1/1/05 $20,000 3/1/06 $73,600 2/1/05 $20,000 4/1/06 $73,600 3/1/05 $20,000 5/1/06 $73,600 4/1/05 $20,000 6/1/06 $73,600 5/1/05 $20,000 7/1/06 $73,600 6/1/05 $73,600 8/1/06 $73,600 7/1/05 $73,600 9/1/06 $73,600 8/1/05 $73,600 10/1/06 $73,600 9/1/05 $73,600 11/1/06 $73,600 10/1/05 $73,600 12/1/06 $73,600 11/1/05 $73,600 1/1/07 $73,600 2/1/07 $73,600 3/1/07 $73,600 4/1/07 $73,600 5/1/07 $73,600 6/1/07 $73,600 Subject to Section 3 below, beginning on the first Amortization Date, the Borrower shall make monthly payments to the Holder on each Repayment Date, each in the amount set forth above, together with any accrued and unpaid interest to date on such portion of the Principal Amount plus any and all other amounts which are then owing under this Note but have not been paid (collectively, the "MONTHLY AMOUNT"). All payments hereunder shall be paid by wire transfer of immediately available funds to the account designated by the Holder in a written notice delivered to the Borrower at least three business days in advance of the Repayment Date.
Minimum Monthly Principal Payments. Amortizing payments of the aggregate principal amount outstanding under this Note at any time (the “Principal Amount”) shall begin on April 1, 2006 and shall recur on the first business day of each succeeding month thereafter until the Maturity Date (each, an “Amortization Date”). Subject to Article 3 below, beginning on the first Amortization Date, the Borrower shall make monthly payments to the Holder on each Repayment Date equal to that portion of the Principal Amount set forth in the amortization schedule annexed hereto (the “Monthly Amount”), together with any accrued but unpaid interest thereon to such Repayment Date and any and all other unpaid amounts, if any, then due, accrued, payable or owing under this Note, the Purchase Agreement or any Related Agreement (as defined in the Purchase Agreement). Any Principal Amount that remains outstanding on the Maturity Date shall be due and payable on the Maturity Date.
