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Wednesday, September 23, 2015 6:32:01 AM
The Note shall mature on the earlier of (i) December 3, 2015, (ii) the consummation of a Major Transaction (as defined in the Note) or (iii) an Event of Default (as defined in the Note) (the “Maturity Date”). The Note shall bear interest at a rate of ten percent (10%) per annum (the “Interest Rate”), but the Interest Rate shall be increased to twenty-two percent per annum (22%) immediately upon the occurrence of and for the duration of an Event of Default (the “Default Interest Rate”). In the event the Event of Default is cured, the Default Interest Rate will no longer be effective and the Interest Rate will apply. Prior to the Maturity Date, the Company may prepay, without penalty, all or any portion of the Note and interest thereon upon not less than ten (10) days’ written notice to Centaurian.
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