Document ID: 12246

Text:
h. S1 Payments. In the event the Company is able to raise amounts in excess of $1,500,000 pursuant to the S1 registration filed on August 31, 2017, then the Company covenants that, at the election of the Buyer, it shall use an amount of up to 33% of the net proceeds to the Company (the amount being specified by the Buyer) to prepay or retire the Note. Such payment will be made within 5 business days of request by Buyer. If the Company violates this provision then both the conversion discount set forth in Section 2(a) of the Note and the prepay premium set forth in Section 2(c) of the Note shall be increased by 15% .

Named Entities:
18
23
Principal
57
58
Percentage
137
138
Percentage

Tokenized Text:
h
.
S1
Payments
.
In
the
event
the
Company
is
able
to
raise
amounts
in
excess
of
$
1
,
500
,
000
pursuant
to
the
S1
registration
filed
on
August
31
,
2017
,
then
the
Company
covenants
that
,
at
the
election
of
the
Buyer
,
it
shall
use
an
amount
of
up
to
33
%
of
the
net
proceeds
to
the
Company
(
the
amount
being
specified
by
the
Buyer
)
to
prepay
or
retire
the
Note
.
Such
payment
will
be
made
within
5
business
days
of
request
by
Buyer
.
If
the
Company
violates
this
provision
then
both
the
conversion
discount
set
forth
in
Section
2
(
a
)
of
the
Note
and
the
prepay
premium
set
forth
in
Section
2
(
c
)
of
the
Note
shall
be
increased
by
15
%
.