Monthly Redemption. On each Monthly Redemption Date, the Company shall redeem the Monthly Redemption Amount (the “Monthly Redemption”). The Monthly Redemption Amount payable on each Monthly Redemption Date shall be paid in cash. The Holder may convert, pursuant to Section 4(a), any principal amount of this Debenture subject to a Monthly Redemption at any time prior to the date that the Monthly Redemption Amount, plus accrued but unpaid interest, liquidated damages and any other amounts then owing to the Holder are due and paid in full. The Company covenants and agrees that it will honor all Notices of Conversion tendered up until such amounts are paid in full.
Appears in 3 contracts
Sources: Convertible Security Agreement (INVO Fertility, Inc.), Convertible Security Agreement (INVO Bioscience, Inc.), Convertible Security Agreement (xG TECHNOLOGY, INC.)
Monthly Redemption. On each Monthly Redemption Date, the Company shall redeem the Monthly Redemption Amount (the “"Monthly Redemption”"). The Monthly Redemption Amount payable on each Monthly Redemption Date shall be paid to the Holder in cashcash via wire transfer. The Holder may convert, pursuant to Section 4(a), any principal amount of this Debenture subject to a Monthly Redemption at any time prior to the date that the Monthly Redemption Amount, plus accrued but unpaid interest, liquidated damages and any other amounts then owing to the Holder are Amount is due and paid in full. The Company covenants and agrees that it will honor all Notices Notice of Conversion Conversions tendered up until such amounts are the Monthly Redemption Amount is paid in full.
Appears in 1 contract
Sources: Convertible Security Agreement (Consolidated Energy Inc)