Common use of Optional Redemption in Cash Clause in Contracts

Optional Redemption in Cash. The Borrower will have the option of prepaying this Note (“Optional Redemption”) by paying to the Holder a sum of money equal to one hundred ten percent (110%) of the principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement, or any Related Agreement (the “Redemption Amount”) outstanding on the

Appears in 1 contract

Sources: Note (Bio Key International Inc)

Optional Redemption in Cash. The Borrower will have the option of prepaying this Note (“Optional "OPTIONAL Redemption") by paying to the Holder a sum of money equal to one hundred ten twenty percent (110120%) of the principal amount of this Note together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Security Agreement, or any Related Ancillary Agreement (as defined in the “Redemption Amount”Security Agreement) outstanding (the "REDEMPTION AMOUNT") on the day written notice of redemption (the

Appears in 1 contract

Sources: Secured Convertible Minimum Borrowing Note (Global Payment Technologies Inc)