Section 29 Prepayments Permanently Reducing Principal

Section 29 Prepayments Permanently Reducing Principal. Lender shall be entitled to receive thirty percent (30%) of the net proceeds from any funds received via the raising of capital by Borrower, including without limitation, issuance of securities, including without limitation, stocks and bonds, and any secured or unsecured debt. Said funds shall be used to permanently reduce the Maximum Line of Credit Amount. The maximum cap on inventory will decrease proportionately in an amount equal to the percentage decrease in the Maximum Line of Credit... Amount. View More