Deemed Payment of Principal and Interest; Settlement of Accrued Interest Notwithstanding Conversion. If the Investor converts this Note, the Company’s delivery of the Conversion Consideration due in respect of such conversion will be deemed to fully satisfy and discharge the Company’s obligation to pay the principal of, and accrued and unpaid interest, if any, on, such Note to, but excluding the Conversion Date.
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Sources: Convertible Security Agreement (Xos, Inc.), Convertible Security Agreement (Xos, Inc.), Convertible Security Agreement (Xos, Inc.)
Deemed Payment of Principal and Interest; Settlement of Accrued Interest Notwithstanding Conversion. If a Holder converts a Note, then the Investor converts this Company will not adjust the Conversion Rate to account for any accrued and unpaid interest on such Note, and, except as provided in Section 5.02(D), the Company’s delivery of the Conversion Consideration due in respect of such conversion will be deemed to fully satisfy and discharge the Company’s obligation to pay the principal of, and accrued and unpaid interest, if any, on, such Note to, but excluding the Conversion Date.. As a result,
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