Common use of Amortization of Principal Clause in Contracts

Amortization of Principal. Commencing on the date that is one-hundred and eighty (180) days after the Original Issue Date, and continuing on the 1st day of each of the following twelve (12) successive months thereafter (each an “Amortization Payment Date”), the Company shall redeem this Note and interest according to Schedule 2(a) (each, an “Amortization Payment”), subject to the provisions of the Exchange Agreement with respect to payments due on any day that is not a Business Day being due on the next Business Day. Each Amortization Payment shall, at the option of the Company, be made in whole or in part, in immediately available Dollars equal to the sum of the Amortization Payment provided for in Schedule 2(a), or, subject to the Company complying with the Equity Conditions on the date of such Amortization Payment, in Common Stock issued at 95% of the lowest VWAP in the prior ten (10) Trading Days prior to such Amortization Payment (the “Amortization Conversion Price”) but in no event shall Common Stock be used to make such Amortization Payment if the Amortization Conversion Price is less than $2.00. On each Amortization Payment Date, any Amortization Payment made in Dollars will be subject to a five percent (5%) premium on such payment.

Amortization of Principal. Commencing on the date that is one-hundred and eighty (180) days after the Original Issue Date, and continuing on the 1st day of each of the following twelve (12) successive months thereafter (each an “Amortization Payment Date”), the Company shall redeem this Note and interest according to Schedule 2(a) (each, an “Amortization Payment”), subject to the provisions of the Exchange Purchase Agreement with respect to payments due on any day that is not a Business Day being due on the next Business Day. Each Amortization Payment shall, at the option of the Company, be made in whole or in part, in immediately available Dollars equal to the sum of the Amortization Payment provided for in Schedule 2(a), or, subject to the Company complying with the Equity Conditions on the date of such Amortization Payment, in Common Stock issued at 95% of the lowest VWAP in the prior ten (10) Trading Days prior to such Amortization Payment (the “Amortization Conversion Price”) Price but in no event shall Common Stock be used to make such Amortization Payment if the Amortization Conversion Price is less than $2.00. On each Amortization Payment Date, any Amortization Payment made in Dollars will be subject to a five percent (5%) premium on such payment.