Payments Clause Example with 10 Variations from Business Contracts
This page contains Payments clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Payments. 1.1 Payments. Borrower shall make monthly payments of $___________ on or before the first day of each month, to be paid to the Lenders pursuant to their pro rate share of the Loan as specified below. Lender Pro Rata Share of Payments ________ _____ % ________ _____ % ________ _____ % ________ _____ % The balance of the Loan plus all accrued and unpaid interest shall be due in full on the Maturity Date. 1.2 Maturity. The outstanding principal balance of the Note together with all interest payment...s are due by ___________________ (the "Maturity Date"). 1.3 Interest. This Note shall accrue simple interest at the rate of twelve percent (12.0%) for the duration of this Note. If the interest payment due hereunder is determined to be in excess of the legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall instead be deemed a payment of principal and shall be applied against principal. 1.4 Prepayment of the Note. Borrower may prepay this Note in whole or in part without the consent of the Lenders. Prepayments shall be applied first to any accrued and unpaid interest and then to principal. All pre payments shall be made to the Lenders pursuant to their pro rata share. The Borrower shall deliver to each Lender on or before the closing of the Offering (as defined below) warrants to purchase the number of shares of its Parent's common stock (the "Warrant") as set forth below. The terms of the Warrant shall be identical to the terms of the warrants issued to investors under the terms of the Offering. The "Offering" shall mean the Company's parent corporation, Americrew Inc. formerly known as PhoneBrasil International, Inc. (the "Parent") offering of up to $___________ of senior secured convertible notes pursuant to that certain Generally Solicited Private Placement Memorandum dated ____________, 2021. Lender Warrants to be Issued ________ ________ ________ ________ ________ ________ ________ ________ 2 3. Default and Remedies: The failure of Borrower to make any payment of principal or of interest on this Note when due for a period of ten (10) days after being notified by any Lender thereof in writing will be an event of default ("Event of Default") under this Note. If an Event of Default shall have occurred, without presentment, demand, protest or notice of any kind, all of which are expressly waived by Borrower, any Lender may declare this Note immediately due and payable in full, both as to principal and accrued interest without any further notice to Borrower, and any Lender may proceed to exercise and enforce any and all of the rights and remedies available under law, in equity and/or otherwise available under this Note.View More
Variations of a "Payments" Clause from Business Contracts
Payments. 1.1 Payments. Borrower shall make monthly payments of $___________ on or before the first day of each month, to be paid to the Lenders pursuant to their pro rate share of the Loan as specified below. Lender Pro Rata Share of Payments ________ _____ % ________ _____ % ________ _____ % ________ _____ % The balance of the Loan plus all accrued and unpaid interest shall be due in full on the Maturity Date. 1.2 Maturity. The outstanding principal balance of the this Note together with all accrued int...erest (as set forth in Section 2 below) shall be payable in three (3) annual installments of principal and accrued interest, commencing on _______________, 2016, and two additional payments are due by ___________________ (the "Maturity Date"). 1.3 Interest. This Note shall accrue simple interest at on the rate twenty-four month and thirty-six month anniversary of twelve percent (12.0%) for the duration date of this Note. If Exhibit A hereto contains an amortization schedule reflecting the interest payment due above payments. So long as no Default (as defined in Section 6 below) has occurred in this Note, all payments hereunder is determined to be in excess of the legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall instead be deemed a payment of principal and shall first be applied against principal. 1.4 Prepayment of the Note. Borrower may prepay this Note in whole or in part without the consent of the Lenders. Prepayments shall be applied first to any accrued and unpaid interest and interest, then to principal. All pre Upon Default in this Note, all payments hereunder shall first be made applied to costs incurred by Payee in accordance with this Note, then to interest and the Lenders pursuant remainder to their pro rata share. principal. The Borrower shall deliver payments due to each Lender on or before the closing Payee from Maker under this Note are in partial consideration of the Offering (as defined below) warrants to purchase the number of shares of its Parent's common stock (the "Warrant") as set forth below. The terms of the Warrant shall be identical to the terms of the warrants issued to investors under the terms of the Offering. The "Offering" shall mean the Company's parent corporation, Americrew Inc. formerly known as PhoneBrasil International, Inc. (the "Parent") offering of up to $___________ of senior secured convertible notes pursuant to transactions contemplated by that certain Generally Solicited Private Placement Memorandum Stock Purchase Agreement (the "Purchase Agreement", effective dated as of ____________, 2021. Lender Warrants to be Issued ________ ________ ________ ________ ________ ________ ________ ________ 2 3. Default 2015, by and Remedies: The failure among Payee and Maker for the acquisition of Borrower to make any payment of principal or of interest on this Note when due for a period of ten (10) days after being notified by any Lender thereof in writing will be an event of default ("Event of Default") under this Note. If an Event of Default shall have occurred, without presentment, demand, protest or notice of any kind, all of which are expressly waived by Borrower, any Lender may declare this Note immediately due and payable in full, both as to principal and accrued interest without any further notice to Borrower, and any Lender may proceed to exercise and enforce any and all of the rights and remedies available under law, in equity and/or otherwise available under this Note. capital stock of Phoenix Rising Aviation, Inc. ("PRA")). View More
Payments. 1.1 Payments. Borrower shall make monthly payments The entire balance of $___________ this Note is due and payable on or before the first day of each month, to be paid to the Lenders pursuant to their pro rate share of the Loan as specified below. Lender Pro Rata Share of Payments ________ _____ % ________ _____ % ________ _____ % ________ _____ % The balance of the Loan plus all accrued and unpaid interest shall be due in full on the Maturity Date. 1.2 Maturity. The outstanding principal balanc...e of the Note together with all interest payments are due by ___________________ __________, 20___ (the "Maturity Date"). 1.3 Interest. This Note shall accrue simple interest at the rate of twelve percent (12.0%) for the duration Maker may prepay all or any portion of this Note. If the interest payment due hereunder is determined to be in excess of the legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall instead be deemed a payment of principal and shall be applied against principal. 1.4 Prepayment of the Note. Borrower may prepay this Note in whole or in part at any time without the consent of the Lenders. Prepayments shall be applied first to any accrued and unpaid interest and then to principal. All pre payments shall be made to the Lenders pursuant to their pro rata share. The Borrower shall deliver to each Lender on or before the closing of the Offering (as defined below) warrants to purchase the number of shares of its Parent's common stock (the "Warrant") as set forth below. The terms of the Warrant shall be identical to the terms of the warrants issued to investors under the terms of the Offering. The "Offering" shall mean the Company's parent corporation, Americrew Inc. formerly known as PhoneBrasil International, Inc. (the "Parent") offering of up to $___________ of senior secured convertible notes pursuant to that certain Generally Solicited Private Placement Memorandum dated ____________, 2021. Lender Warrants to be Issued ________ ________ ________ ________ ________ ________ ________ ________ 2 3. Default and Remedies: The failure of Borrower to make any payment of principal or of interest on this Note when due for a period of ten (10) days after being notified by any Lender thereof in writing will be an event of default ("Event of Default") under this Note. If an Event of Default shall have occurred, without presentment, demand, protest or notice of any kind, all of which are expressly waived by Borrower, any Lender may declare this Note immediately due and payable in full, both as to principal and accrued interest without any further notice to Borrower, and any Lender may proceed to exercise and enforce any and all of the rights and remedies available under law, in equity and/or otherwise available under this Note. penalty. View More
Payments. 1.1 Payments. Borrower shall make monthly payments The entire balance of $___________ this Note is due and payable on or before the first day of each month, to be paid to the Lenders pursuant to their pro rate share of the Loan as specified below. Lender Pro Rata Share of Payments ________ _____ % ________ _____ % ________ _____ % ________ _____ % The balance of the Loan plus all accrued and unpaid interest shall be due in full on the Maturity Date. 1.2 Maturity. The outstanding principal balanc...e of the Note together with all interest payments are due by ___________________ __________ (the "Maturity Date"). 1.3 Interest. This Note shall accrue simple interest at the rate of twelve percent (12.0%) for the duration Maker may prepay all or any portion of this Note. If the interest payment due hereunder is determined to be in excess of the legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall instead be deemed a payment of principal and shall be applied against principal. 1.4 Prepayment of the Note. Borrower may prepay this Note in whole or in part at any time without the consent of the Lenders. Prepayments shall be applied first to any accrued and unpaid interest and then to principal. All pre payments shall be made to the Lenders pursuant to their pro rata share. The Borrower shall deliver to each Lender on or before the closing of the Offering (as defined below) warrants to purchase the number of shares of its Parent's common stock (the "Warrant") as set forth below. The terms of the Warrant shall be identical to the terms of the warrants issued to investors under the terms of the Offering. The "Offering" shall mean the Company's parent corporation, Americrew Inc. formerly known as PhoneBrasil International, Inc. (the "Parent") offering of up to $___________ of senior secured convertible notes pursuant to that certain Generally Solicited Private Placement Memorandum dated ____________, 2021. Lender Warrants to be Issued ________ ________ ________ ________ ________ ________ ________ ________ 2 3. Default and Remedies: The failure of Borrower to make any payment of principal or of interest on this Note when due for a period of ten (10) days after being notified by any Lender thereof in writing will be an event of default ("Event of Default") under this Note. If an Event of Default shall have occurred, without presentment, demand, protest or notice of any kind, all of which are expressly waived by Borrower, any Lender may declare this Note immediately due and payable in full, both as to principal and accrued interest without any further notice to Borrower, and any Lender may proceed to exercise and enforce any and all of the rights and remedies available under law, in equity and/or otherwise available under this Note. penalty. View More
Payments. 1.1 Payments. Borrower shall make monthly payments (a) NICOLET BANKSHARES, INC., a Wisconsin corporation (the "Issuer"), for value received, hereby promises to pay to ____________________, or registered assigns (collectively, the "Holder"), the principal sum of $___________ on or before the first day of each month, to be paid to the Lenders pursuant to their pro rate share of the Loan as specified below. Lender Pro Rata Share of Payments ________ _____ % ________ _____ % ________ _____ % _______..._ _____ % The balance of the Loan _________________ Dollars (U.S.) ($________) plus all accrued and but unpaid interest shall be due in full on the Maturity Date. 1.2 Maturity. The outstanding principal balance of the Note together with all interest payments are due by ___________________ February 17, 2025 (the "Maturity Date"). 1.3 Interest. This Note shall accrue simple Date") and to pay interest on such principal amount at the rate of 5.0% per annum (computed on the basis of a 360-day year of twelve percent (12.0%) 30-day months) from February 17, 2015, or from the most recent Interest Payment Date to which interest has been paid or duly provided, on March 31, June 30, September 30 and December 31 of each year (each, an "Interest Payment Date"), commencing March 31, 2015, until the principal hereof is paid or made available for payment. If any payment of interest or principal is not paid in full when the duration of this Note. If the same becomes due and payable, then interest payment due hereunder is determined to will be in excess of the legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall instead be deemed a compounded quarterly. (b) Any payment of principal and shall be applied against principal. 1.4 Prepayment of the Note. Borrower may prepay this Note in whole or in part without the consent of the Lenders. Prepayments shall be applied first to any accrued and unpaid interest and then to principal. All pre payments shall be made to the Lenders pursuant to their pro rata share. The Borrower shall deliver to each Lender on or before the closing of the Offering (as defined below) warrants to purchase the number of shares of its Parent's common stock (the "Warrant") as set forth below. The terms of the Warrant shall be identical to the terms of the warrants issued to investors under the terms of the Offering. The "Offering" shall mean the Company's parent corporation, Americrew Inc. formerly known as PhoneBrasil International, Inc. (the "Parent") offering of up to $___________ of senior secured convertible notes pursuant to that certain Generally Solicited Private Placement Memorandum dated ____________, 2021. Lender Warrants to be Issued ________ ________ ________ ________ ________ ________ ________ ________ 2 3. Default and Remedies: The failure of Borrower to make any payment of principal or of interest on this 5.0% Subordinated Note when due for a period of ten (10) days after being notified by any Lender thereof in writing will be an event of default ("Event of Default") under this Note. If an Event of Default shall have occurred, without presentment, demand, protest or notice of any kind, all of which are expressly waived by Borrower, any Lender may declare this Note immediately (this "Note") that would otherwise become due and payable on a day which is not a Business Day shall become due and payable on the next succeeding Business Day, with the same force and effect as if made on the date for payment of such principal or interest, and no interest shall accrue in full, both as respect of such payment for the period after such day. The term "Business Day" means any day that is not a Saturday or Sunday and that is not a day on which banks in the State of Wisconsin are generally authorized or required by law or executive order to principal and accrued interest without any further notice to Borrower, and any Lender may proceed to exercise and enforce any and all of the rights and remedies available under law, in equity and/or otherwise available under this Note. be closed. View More
Payments. 1.1 Payments. Borrower shall make monthly payments of $___________ on or before the first day of each month, to be paid to the Lenders pursuant to their pro rate share Payment of the Loan as specified below. Lender Pro Rata Share of Payments ________ _____ % ________ _____ % ________ _____ % ________ _____ % The balance of the Loan plus all accrued and unpaid interest shall be due in full on the Maturity Date. 1.2 Maturity. The outstanding principal balance of the Note together with all interest... payments are due by ___________________ (the "Maturity Date"). 1.3 Interest. This Note shall accrue simple interest at the rate of twelve percent (12.0%) for the duration of this Note. If the interest payment due hereunder is determined to be in excess of the legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall instead be deemed a payment of principal and shall be applied against principal. 1.4 Prepayment of the Note. Borrower purchase price may prepay this Note in whole or in part without the consent of the Lenders. Prepayments shall be applied first to any accrued and unpaid interest and then to principal. All pre payments shall be made to by bank wire transfer to: [________________________] Or by check payable to: [ ] [ ] [ ] We will give you notice after we receive and accept your subscription and have raised at least the Lenders pursuant to their pro rata share. The Borrower shall deliver to each Lender on or before the closing minimum offering amount of the Offering (as defined below) warrants to purchase the number of shares of its Parent's common stock (the "Warrant") as set forth below. The terms of the Warrant shall be identical to the terms of the warrants issued to investors under the terms of the Offering. The "Offering" shall mean the Company's parent corporation, Americrew Inc. formerly known as PhoneBrasil International, Inc. (the "Parent") offering of up to $___________ of senior secured convertible notes pursuant to that certain Generally Solicited Private Placement Memorandum dated ____________, 2021. Lender Warrants to be Issued ________ ________ ________ ________ ________ ________ ________ ________ 2 3. Default and Remedies: The failure of Borrower to make any payment of principal or of interest on this Note when due for a period of ten (10) days after being notified by any Lender thereof in writing will be an event of default ("Event of Default") under this Note. If an Event of Default shall have occurred, without presentment, demand, protest or notice of any kind, all of which are expressly waived by Borrower, any Lender may declare this Note immediately due and payable in full, both as to principal and accrued interest without any further notice to Borrower, and any Lender may proceed to exercise and enforce any and all of the rights and remedies available under law, in equity and/or otherwise available under this Note. $12,000,000. View More
Payments. 1.1 Payments. Borrower shall make monthly payments The Company, for value received, promises to pay to ____________________ the principal sum of $___________ _______________ ($____), plus accrued but unpaid interest on March 15, 2025 ("Stated Maturity") and to pay interest thereon (i) from and including the Issue Date of the Subordinated Notes to but excluding March 15, 2025 or before the first day earlier redemption date contemplated by Section 4 of this Subordinated Note at 8.50% per annum, co...mputed on the basis of a 360-day year consisting of twelve 30-day months and payable semi-annually in arrears on March 15 and September 15 of each month, to be paid to the Lenders pursuant to their pro rate share of the Loan as specified below. Lender Pro Rata Share of Payments ________ _____ % ________ _____ % ________ _____ % ________ _____ % The balance of the Loan plus all accrued and unpaid interest shall be due in full on the Maturity Date. 1.2 Maturity. The outstanding principal balance of the Note together with all interest payments are due by ___________________ (the "Maturity Date"). 1.3 Interest. This Note shall accrue simple interest at the rate of twelve percent (12.0%) for the duration of this Note. If the interest payment due hereunder is determined to be in excess of the legal maximum rate, then that portion of the interest payment representing year (each, an amount in excess of the then legal maximum rate shall instead be deemed a payment of principal and shall be applied against principal. 1.4 Prepayment of the Note. Borrower may prepay this Note in whole or in part without the consent of the Lenders. Prepayments shall be applied first to any accrued and unpaid interest and then to principal. All pre payments shall be made to the Lenders pursuant to their pro rata share. The Borrower shall deliver to each Lender on or before the closing of the Offering (as defined below) warrants to purchase the number of shares of its Parent's common stock (the "Warrant") as set forth below. The terms of the Warrant shall be identical to the terms of the warrants issued to investors under the terms of the Offering. The "Offering" shall mean the Company's parent corporation, Americrew Inc. formerly known as PhoneBrasil International, Inc. (the "Parent") offering of up to $___________ of senior secured convertible notes pursuant to that certain Generally Solicited Private Placement Memorandum dated ____________, 2021. Lender Warrants to be Issued ________ ________ ________ ________ ________ ________ ________ ________ 2 3. Default and Remedies: The failure of Borrower to make any payment of principal or of interest on this Note when due for a period of ten (10) days after being notified by any Lender thereof in writing will be an event of default ("Event of Default") under this Note. If an Event of Default shall have occurred, without presentment, demand, protest or notice of any kind, all of which are expressly waived by Borrower, any Lender may declare this Note immediately due and payable in full, both as to principal and accrued interest without any further notice to Borrower, and any Lender may proceed to exercise and enforce any and all of the rights and remedies available under law, in equity and/or otherwise available under this Note. "Interest Payment Date"), beginning September 15, 2023. View More
Payments. 1.1 Payments. Borrower shall make I will pay the principal, interest, and any late charges or other fees on this Note when due. This Note is payable in ___ monthly payments installments of $___________ each, consisting of principal and interest, commencing on or before the first ________ day of each month, to be paid to _____________, and continuing until the Lenders pursuant to their pro rate share final payment date of __________________, which is the Loan as specified below. Lender Pro Rata S...hare of Payments ________ _____ % ________ _____ % ________ _____ % ________ _____ % The balance of the Loan plus all accrued and unpaid interest shall be due in full on the Maturity Date. 1.2 Maturity. The outstanding principal balance of the Note together with all interest payments are due by ___________________ (the "Maturity Date"). 1.3 Interest. This Note shall accrue simple interest at the rate of twelve percent (12.0%) for the duration maturity date of this Note. If the interest payment due hereunder is determined to be in excess Because of the legal maximum rate, then that portion daily accrual of interest on my loan and the interest effect of rounding, my final payment representing an amount in excess may be more or less than my regular payment. My final payment shall consist of the then legal maximum rate shall instead be deemed a payment of principal remaining principal, unpaid accrued interest and shall be applied against principal. 1.4 Prepayment of the other charges due under this Note. Borrower may prepay this Note in whole or in part without the consent of the Lenders. Prepayments shall All payments will be applied first to any accrued and unpaid fees incurred as a result of failed payments, as provided in Paragraph 11; then to any charges for making payments other than as provided in this Note; then to any late charges then due; then to any interest then due; and then to principal. All pre No unpaid interest or charges will be added to principal. I further acknowledge that, if I make my payments shall be made to after the Lenders pursuant to their pro rata share. The Borrower shall deliver to each Lender on scheduled due date, or before the closing of the Offering (as defined below) warrants to purchase the number of shares of its Parent's common stock (the "Warrant") as set forth below. The terms of the Warrant shall be identical to the terms of the warrants issued to investors under the terms of the Offering. The "Offering" shall mean the Company's parent corporation, Americrew Inc. formerly known as PhoneBrasil International, Inc. (the "Parent") offering of up to $___________ of senior secured convertible notes pursuant to that certain Generally Solicited Private Placement Memorandum dated ____________, 2021. Lender Warrants to be Issued ________ ________ ________ ________ ________ ________ ________ ________ 2 3. Default and Remedies: The failure of Borrower to make any payment of principal or of interest on incur a charge/fee, this Note when due for will not amortize as originally scheduled, which may result in a period of ten (10) days after being notified by any Lender thereof in writing will be an event of default ("Event of Default") under this Note. If an Event of Default shall have occurred, without presentment, demand, protest or notice of any kind, all of which are expressly waived by Borrower, any Lender may declare this Note immediately due and payable in full, both as to principal and accrued interest without any further notice to Borrower, and any Lender may proceed to exercise and enforce any and all of the rights and remedies available under law, in equity and/or otherwise available under this Note. substantially higher final payment amount. View More
Payments. 1.1 Payments. Borrower shall make I will pay the principal, interest, and any late charges or other fees on this Note when due. This Note is payable in ___ monthly payments installments of $___________ each, consisting of principal and interest, commencing on or before the first ________ day of each month, to be paid to _____________, and continuing until the Lenders pursuant to their pro rate share final payment of __________________ on , which is the Loan as specified below. Lender Pro Rata Sh...are of Payments ________ _____ % ________ _____ % ________ _____ % ________ _____ % The balance of the Loan plus all accrued and unpaid interest shall be due in full on the Maturity Date. 1.2 Maturity. The outstanding principal balance of the Note together with all interest payments are due by ___________________ (the "Maturity Date"). 1.3 Interest. This Note shall accrue simple interest at the rate of twelve percent (12.0%) for the duration maturity date of this Note. If the interest payment due hereunder is determined to be in excess Because of the legal maximum rate, then that portion daily accrual of interest on my loan and the interest effect of rounding, my final payment representing an amount in excess may be more or less than my regular payment. My final payment shall consist of the then legal maximum rate shall instead be deemed a payment of principal remaining principal, unpaid accrued interest and shall be applied against principal. 1.4 Prepayment of the other charges due under this Note. Borrower may prepay this Note in whole or in part without the consent of the Lenders. Prepayments shall All payments will be applied first to any accrued and unpaid fees then due, whether they are incurred as a result of failed payments, as provided in Paragraph 11, payment processing fees assessed, or any late payments, as provided in Paragraph 4; then to any interest then due; and then to principal. All pre However, if I am delinquent, the application of my payments shall may change. No unpaid interest, fees or charges will be made added to principal. I further acknowledge that, if I make my payments after the Lenders pursuant to their pro rata share. The Borrower shall deliver to each Lender on scheduled due date, or before the closing of the Offering (as defined below) warrants to purchase the number of shares of its Parent's common stock (the "Warrant") as set forth below. The terms of the Warrant shall be identical to the terms of the warrants issued to investors under the terms of the Offering. The "Offering" shall mean the Company's parent corporation, Americrew Inc. formerly known as PhoneBrasil International, Inc. (the "Parent") offering of up to $___________ of senior secured convertible notes pursuant to that certain Generally Solicited Private Placement Memorandum dated ____________, 2021. Lender Warrants to be Issued ________ ________ ________ ________ ________ ________ ________ ________ 2 3. Default and Remedies: The failure of Borrower to make any payment of principal or of interest on incur a charge/fee, this Note when due for will not amortize as originally scheduled, which may result in a period of ten (10) days after being notified by any Lender thereof in writing will be an event of default ("Event of Default") under this Note. If an Event of Default shall have occurred, without presentment, demand, protest or notice of any kind, all of which are expressly waived by Borrower, any Lender may declare this Note immediately due and payable in full, both as to principal and accrued interest without any further notice to Borrower, and any Lender may proceed to exercise and enforce any and all of the rights and remedies available under law, in equity and/or otherwise available under this Note. substantially higher final payment amount. View More
Payments. 1.1 Payments. Borrower shall make This Note is payable in ___ monthly payments installments of $___________ each, consisting of principal and interest, commencing on or before the first ________ day of each month, to be paid to _____________, and continuing until the Lenders pursuant to their pro rate share final payment date of __________________, which is the Loan as specified below. Lender Pro Rata Share of Payments ________ _____ % ________ _____ % ________ _____ % ________ _____ % The balan...ce of the Loan plus all accrued and unpaid interest shall be due in full on the Maturity Date. 1.2 Maturity. The outstanding principal balance of the Note together with all interest payments are due by ___________________ (the "Maturity Date"). 1.3 Interest. This Note shall accrue simple interest at the rate of twelve percent (12.0%) for the duration maturity date of this Note. If the interest payment due hereunder is determined to be in excess Each of the legal maximum rate, then monthly installment payments described above may include unpaid principal, interest, late charges, or other fees I have outstanding or incurred, which may cause my monthly payment amount to vary from that portion of the interest stated above. The final payment representing an amount in excess shall consist of the then legal maximum rate shall instead be deemed a payment of principal remaining principal, unpaid accrued interest and shall be applied against principal. 1.4 Prepayment of the other charges due under this Note. Borrower may prepay this Note in whole or in part without the consent of the Lenders. Prepayments shall All payments will be applied first to any accrued and unpaid fees incurred as a result of failed payments, as provided in Paragraph 11; then to any charges for making payments other than as provided in this Note; then to any late charges then due; then to any interest then due; and then to principal. All pre payments shall be made to the Lenders pursuant to their pro rata share. The Borrower shall deliver to each Lender on No unpaid interest or before the closing of the Offering (as defined below) warrants to purchase the number of shares of its Parent's common stock (the "Warrant") as set forth below. The terms of the Warrant shall be identical to the terms of the warrants issued to investors under the terms of the Offering. The "Offering" shall mean the Company's parent corporation, Americrew Inc. formerly known as PhoneBrasil International, Inc. (the "Parent") offering of up to $___________ of senior secured convertible notes pursuant to that certain Generally Solicited Private Placement Memorandum dated ____________, 2021. Lender Warrants to be Issued ________ ________ ________ ________ ________ ________ ________ ________ 2 3. Default and Remedies: The failure of Borrower to make any payment of principal or of interest on this Note when due for a period of ten (10) days after being notified by any Lender thereof in writing charges will be an event of default ("Event of Default") under this Note. If an Event of Default shall have occurred, without presentment, demand, protest or notice of any kind, all of which are expressly waived by Borrower, any Lender may declare this Note immediately due and payable in full, both as added to principal and accrued interest without any further notice to Borrower, and any Lender may proceed to exercise and enforce any and all of the rights and remedies available under law, in equity and/or otherwise available under this Note. principal. View More
Payments. 1.1 Payments. Borrower shall make This Note is payable in ___ monthly payments installments of $___________ each, consisting of principal and interest, commencing on or before the first ________ day of each month, to be paid to _____________, and continuing until the Lenders pursuant to their pro rate share final payment date of __________________, which is the Loan as specified below. Lender Pro Rata Share of Payments ________ _____ % ________ _____ % ________ _____ % ________ _____ % The balan...ce of the Loan plus all accrued and unpaid interest shall be due in full on the Maturity Date. 1.2 Maturity. The outstanding principal balance of the Note together with all interest payments are due by ___________________ (the "Maturity Date"). 1.3 Interest. This Note shall accrue simple interest at the rate of twelve percent (12.0%) for the duration maturity date of this Note. If the interest The final payment due hereunder is determined to be in excess of the legal maximum rate, then that portion of the interest payment representing an amount in excess shall consist of the then legal maximum rate shall instead be deemed a payment of principal remaining principal, unpaid accrued interest and shall be applied against principal. 1.4 Prepayment of the other charges due under this Note. Borrower may prepay this Note in whole or in part without the consent of the Lenders. Prepayments shall All payments will be applied first to any accrued and unpaid fees incurred as a result of failed automated payments or returned bank drafts or checks, as provided in Paragraph 11; then to any charges for making payments other than as provided in this Note; then to any late charges then due; then to any interest then due; and then to principal. All pre payments shall be made to the Lenders pursuant to their pro rata share. The Borrower shall deliver to each Lender on No unpaid interest or before the closing of the Offering (as defined below) warrants to purchase the number of shares of its Parent's common stock (the "Warrant") as set forth below. The terms of the Warrant shall be identical to the terms of the warrants issued to investors under the terms of the Offering. The "Offering" shall mean the Company's parent corporation, Americrew Inc. formerly known as PhoneBrasil International, Inc. (the "Parent") offering of up to $___________ of senior secured convertible notes pursuant to that certain Generally Solicited Private Placement Memorandum dated ____________, 2021. Lender Warrants to be Issued ________ ________ ________ ________ ________ ________ ________ ________ 2 3. Default and Remedies: The failure of Borrower to make any payment of principal or of interest on this Note when due for a period of ten (10) days after being notified by any Lender thereof in writing charges will be an event of default ("Event of Default") under this Note. If an Event of Default shall have occurred, without presentment, demand, protest or notice of any kind, all of which are expressly waived by Borrower, any Lender may declare this Note immediately due and payable in full, both as added to principal and accrued interest without any further notice to Borrower, and any Lender may proceed to exercise and enforce any and all of the rights and remedies available under law, in equity and/or otherwise available under this Note. principal. View More
