Where they going to get this money?....they got less than 65 days to perform.
Redemption. In consideration for the Exchange, as soon as possible following the date hereof and in any event within 90 days of the date hereof (“Redemption Deadline”), the Company shall redeem (“Redemption”) $10,000,000 (less any redemption amounts paid to any affiliate of the Holder pursuant to identical terms hereunder) (“Redemption Amount”) of the Existing Securities set forth in Group B of Annex A.
The Redemption may occur in one or more Redemptions prior to the Redemption Deadline. The Company shall provide the Investor with prior written notice of a Redemption and within 2 Trading Days of such notice shall pay the amount indicated in such notice in United States dollars and in immediately available funds to the account specified on the Investor’s signature page hereto. The order of redemption of the Existing Securities set forth in Group B shall be set forth in Annex A and shall not be reordered without the prior written consent of the Investor. Upon receipt of the Redemption payment, all of the Investor’s rights under the Existing Securities subject to such Redemption, as set forth in Group B on Annex A, shall be extinguished. In the event that the Redemption occurred in full on or before the earlier of (i) Redemption Deadline and the Termination Date (as defined below), any Late Fees that accrued and were otherwise payable from the date hereof until the Redemption Deadline shall be waived by the Investor. Additionally, until the earlier of the Redemption Deadline and the Termination Date, the Investor agrees not to sell, dispose of, transfer, convert or exercise any of the Existing Securities set forth in Group B on Annex A without the prior written consent of the Company.
