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This excerpt taken from the RICK 8-K filed Aug 11, 2009. Schedule for Payment of Principal and Interest.
The Company shall pay to the Holder one (1) initial payment of interest only on the Principal Amount outstanding hereunder, in cash, in arrears, at the rate of ten percent (10%) per annum from the Original Issuance Date, which initial payment shall be due February 4, 2010. Thereafter, the Company shall pay to the Holder the
Principal Amount of this Debenture in ten (10) equal quarterly principal payments of _______________ ($________), plus all interest accrued on the Principal Amount, but not yet paid, commencing on May 4, 2010, and continuing thereafter on each successive August 4, November 4, February 4 and May 4 throughout the term of this Debenture until the outstanding Principal Amount of this Debenture has been paid in full, with the final quarterly payment of principal and interest paid on August 4, 2012.
10% Convertible Debenture – Page 1 2. This excerpt taken from the RICK 8-K filed Sep 8, 2008. Schedule
for Payment of Principal and Interest.
The
Company shall pay to the Holder seventeen (17) equal monthly installments of
$60,829.18 of principal plus interest on the Principal Amount outstanding
hereunder, in cash, in arrears, at the rate of eight percent (8%) per annum from
the Original Issuance Date, commencing with the first monthly payment due April
5, 2009 and subsequent monthly payments thereafter due on the first day of each
successive month through August 5, 2010, with a final payment of $2,443,717.46
being due and payable on September 5, 2010, being the Maturity Date of this Note
representing the then total outstanding principal and interest due on the
Note.
The
payment schedule of this Note is based upon a five (5) year amortization, with a
two (2) year balloon payment.
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