Common use of Payment and Currency Clause in Contracts

Payment and Currency. All payments by the Company hereunder shall be made in U.S. dollars to a bank account designated by the Holder in writing not less than 5 Business Days prior to the relevant due date by wire transfer in immediately available funds. Interest payment shall be made without withholding or deduction for or on account of any Taxes, duties or other charges imposed by any Governmental Authority (“Withholdings and Deductions”). The Company shall bear, and shall add to such interest payments the amount of any Withholdings and Deductions as are necessary for the Holder to receive all interest payments by the Company hereunder as if such Withholdings and Deductions had not been made. For the avoidance of doubt, the interest payments may not be converted to any Conversion Shares or Maturity Conversion Shares pursuant to Section 2 hereof.