Common use of REPAYMENT OF THE LOAN AMOUNT Clause in Contracts

REPAYMENT OF THE LOAN AMOUNT. 4.3.1. Subject to Section 4.5 below, in the event the Principal Amount is not converted in accordance with Section 4.4 within the Conversion Period (as defined below), the Company shall repay the Principal Amount to Mivtach in thirty (30) equal monthly payments payable on the first of each month with the first such installment due and payable on the first day of the twenty fifth (25th) month following the Closing Date. 4.3.2. The Loan Amount shall not be prepayable in whole or in part by the Company without the prior written consent of Mivtach. 4.3.3. The Company shall repay the Interest on quarterly basis with the first payment of Interest to be made on April 1, 2006 for all Interest accrued until such date. 4.3.4. The Company hereby expressly waives demand and presentment for payment, notice of non-payment, notice of dishonor, protest, notice of protest, bringing of suit, and diligence in taking any action to collect amounts called for hereunder and shall be directly and primarily liable for payment of all sums owing and to be owing hereon, regardless of and without any notice, diligence, act or omission by Mivtach.