The Plan shall be unfunded, and Mandatory Conversions, Voluntary Conversions, Stock Units credited to each Participant’s Stock Unit Account and all benefits payable to Participants under the Plan represent merely unfunded, unsecured promises of the Company to pay a sum of money to the Participant in the future.
“Stock Unit Account” means a book account maintained by the Company reflecting the Stock Units allocated to a Participant pursuant to Section 4 hereof as a result of the Participant’s Mandatory Conversions and Voluntary Conversions and such additional Stock Units as shall be credited thereto in respect of dividends paid on the Common Stock.
#[[Organization A:Organization]] and [[Organization B:Organization]] shall maintain records showing the Principal Amount converted and the date of such conversions.
Amended and Restated Secured Convertible Promissory Note Issued by Dated: September 29, 2023 SCHEDULE OF CONVERSIONS AND PAYMENTS OF PRINCIPAL
Crowdgather, Inc. shall continue to bar any other conversions of its debt to common stock, except that Sanjay Sabani may convert his note for $240,000 to restricted common stock at $.01 per share in an equity financing round not to exceed $1,000,000 in the aggregate, including the conversion of certain receivables. Such conversions will not be able to trade under Rule 144 for 6 months after the date of issue.
This Conversion Schedule reflects conversions made under the Note through the Conversion Date specified in the Conversion Notice to which this schedule is attached.
Section # Certain Notices Regarding Elections, Conversions and Continuations of Loans. Notices by [[Organization A:Organization]] to [[administrative agent for the Banks:Organization]] of Elections, Conversions and Continuations of LIBOR Loans shall be irrevocable and shall be effective only if received by [[administrative agent for the Banks:Organization]] not later than 11:00 a.m. (New York time) on the number of Banking Days prior to the date of the relevant Election, Conversion or Continuation specified below:
after giving effect to # all Term A-1 Borrowings, all conversions of Term A-1 Loans from one Type to the other, and all continuations of Term A-1 Loans as the same Type, # all Term A-2 Borrowings, all conversions of Term A-2 Loans from one Type to the other, and all continuations of Term A-2 Loans as the same Type and # all Revolving Credit Borrowings, all conversions of Revolving Credit Loans from one Type to the other, and all continuations of Revolving Credit Loans as the same Type, there shall be more than ten (10) Interest Periods in effect with respect to the Revolving Credit Facility, Term A-1 Facility and the Term A-2 Facility;
Effective January 2, 2015, the outstanding balance (principal plus accrued interest) of the Existing Note at December 31, 2014 (adjusted for conversions, etc.) is transferred to the New Note and the Existing Note is cancelled;
After giving effect to all Borrowings, all conversions of Loans from one Type to the other, and all continuations of Loans as the same Type, there shall not be more than 10 Interest Periods in effect.
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