Common use of Mandatory Prepayments of Principal Clause in Contracts

Mandatory Prepayments of Principal. On June 30, 2025, the Company shall make a first mandatory pro rata partial prepayment of principal on the Notes in the aggregate amount of $3,000,000, less the principal amount of any optional prepayments of Notes made prior to June 30, 2025 pursuant to Section 8.2(b). On December 30, 2025, the Company shall make a second mandatory pro rata partial prepayment of principal on the Notes in the aggregate amount of $3,000,000, less the principal amount of (i) any optional prepayments of Notes made from June 30, 2025 to December 29, 2025 pursuant to Section 8.2(b) and (ii) any optional prepayments of Notes in excess of $3,000,000 made prior to June 30, 2025 pursuant to Section 8.2(b). Each prepayment of principal shall also include accrued and unpaid interest thereon to, but not including, the prepayment date. If any prepayment date is not a Business Day, then such prepayment of principal and accrued interest thereon shall be paid on the next succeeding Business Day without any accrual of additional interest thereon.

Mandatory Prepayments of Principal. On June 30, 2025, the Company shall make a first mandatory pro rata partial prepayment of principal on the Notes in the aggregate amount of $3,000,000, less the principal amount of any optional prepayments of Notes made prior to June 30, 2025 pursuant to Section 8.2(b)) of the Note Exchange Agreement. On December 30, 2025, the Company shall make a second mandatory pro rata partial prepayment of principal on the Notes in the aggregate amount of $3,000,000, less the principal amount of (i) any optional prepayments of Notes made from June 30, 2025 to December 29, 2025 pursuant to Section 8.2(b) of the Note Exchange Agreement and (ii) any optional prepayments of Notes in excess of $3,000,000 made prior to June 30, 2025 pursuant to Section 8.2(b)) of the Note Exchange Agreement. Each prepayment of principal shall also include accrued and unpaid interest thereon to, but not including, the prepayment date. If any prepayment date is not a Business Day, then such prepayment of principal and accrued interest thereon shall be paid on the next succeeding Business Day without any accrual of additional interest thereon.