Minimum Monthly Principal Payments Sample Clauses

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 April 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 Borrower shall make payments to the Holder in the amount of $100,000 (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 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 represented by funds contained in the Restricted Account) (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 Amortizing 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 ▇▇▇▇▇▇ 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 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: 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 of this Note shall begin on June 1, 2006 and shall recur on each succeeding Repayment Date thereafter until the Principal Amount has been repaid in full On each Repayment Date, the Borrower shall make payments to the Holder in the amount of $219,047.62 (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 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 Principal Amount, together with any accrued and unpaid interest and any and all other unpaid amounts that are then owing by the Borrower or its subsidiaries under this Note, the Purchase Agreement and/or any other Related Agreement that remains outstanding on the Maturity Date 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 three calendar months from the First Advance Date 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 then due, accrued, payable or owing under this Note, the Security and Purchase Agreement or any Related Agreement (as defined in the Security and Purchase Agreement). 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 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") as set forth in the table below: ------------------------------- ---------------------------- ---------------------------- ---------------------------- Date Principal Amount Date Principal Amount ------------------------------- ---------------------------- ---------------------------- ---------------------------- 7/1/04 $25,000 10/1/05 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 8/1/04 $25,000 11/1/05 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 9/1/04 $25,000 12/1/05 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 10/1/04 $25,000 1/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 11/1/04 $25,000 2/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 12/1/04 $25,000 3/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 1/1/05 $25,000 4/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 2/1/05 $25,000 5/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 3/1/05 $25,000 6/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 4/1/05 $45,000 7/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 5/1/05 $45,000 8/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 6/1/05 $45,000 9/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 7/1/05 $45,000 10/1/06 $55833.33 ------------------------------- ----------------------...

Minimum Monthly Principal Payments. Amortizing payments of the outstanding Principal Amount of this Note shall commence on February 1, 2006 and on the first business day of each consecutive calendar 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 in the amount of one-eighteenth (1/18th) of the initial Principal Amount (the "Monthly Principal Amount"), together with any other amounts, except for regular interest, which are then 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"). Amounts of conversions of Principal Amount made by the Holder or Borrower pursuant to Section 2.1 or Article III shall be applied to Monthly Amounts commencing with the Monthly Amounts first payable and then Monthly Amounts thereafter in chronological order. Any Principal Amount, interest and any other sum arising under the Subscription Agreement that remains outstanding on the Maturity Date shall be due and payable on the Maturity Date. FOR VALUE RECEIVED, INNOVATIVE FOOD HOLDINGS, INC., a Florida corporation (hereinafter called "Borrower"), hereby promises to pay to MOMONA CAPITAL, ▇ ▇▇▇▇▇▇ ▇▇▇▇, Monsey, New York 10952, Fax: (▇▇▇) ▇▇▇-▇▇▇▇ (the "Holder") or its registered assigns or successors in interest or order, without demand, the sum of Twenty-Five Thousand Dollars ($25,000.00) (“Principal Amount”), with simple and unpaid interest thereon, on August 25, 2007 (the "Maturity Date"), if not sooner paid. This Note has been entered into pursuant to the terms of a subscription agreement between the Borrower and the Holder, dated of even date herewith (the “Subscription Agreement”), and shall be governed by the terms of such Subscription Agreement. Unless otherwise separately defined herein, all capitalized terms used in this Note shall have the same meaning as is set forth in the Subscription Agreement. The following terms shall apply to this Note:

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: 6/1/04 $ 30,000.00 71/04 $ 30,000.00 8/1/04 $ 30,000.00 9/1/04 $ 30,000.00 10/1/04 $ 30,000.00 11/1/04 $ 30,000.00 12/1/04 $ 30,000.00 1/1/05 $ 30,000.00 2/1/05 $ 30,000.00 3/1/05 $ 50,000.00 4/1/05 $ 50,000.00 5/1/05 $ 50,000.00 6/1/05 $ 72,083.34 7/1/05 $ 72,083.34 8/1/05 $ 72,083.34 9/1/05 $ 72,083.34 10/1/05 $ 72,083.34 11/1/05 $ 72,083.34 12/1/05 $ 72,083.34 1/1/06 $ 72,083.34 2/1/06 $ 72,083.34 3/1/06 $ 72,083.34 4/1/06 $ 72,083.34 5/1/06 $ 72,083.34 6/1/06 $ 72,083.34 7/1/06 $ 72,083.34 8/1/06 $ 72,083.34 9/1/06 $ 72,083.34 10/1/06 $ 72,083.34 11/1/06 $ 72,083.34 12/1/06 $ 94,166.68 1/1/07 $ 94,166.68 2/1/07 $ 94,166.68 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. Payments of the Principal Amount shall begin on June 1, 2006 and shall recur on each succeeding Repayment Date thereafter 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 III below, on each Repayment Date, the Borrower shall make payments to the Holder in the amount of $32,954.53 (the “Monthly Principal Amount”), together with any accrued and unpaid interest then due on the Principal Amount plus any and all other amounts which are then owing under this Term 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 Principal Amount that remains outstanding on the Maturity Date shall be due and payable on the Maturity Date.