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Document Preview Convertible Debenture |
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Title: |
Convertible Debenture |
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Entities: |
Gasco Energy, Inc.; Gasco Energy Inc |
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Date: |
2003 |
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Size: |
Preview shows 3KB of 35KB total |
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Price: |
$38 |
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ID: |
#160731 |
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This Debenture has not been registered under the Securities Act of 1933, as
amended ("Act"), or applicable state securities laws ("State Acts"), and shall
not be sold, hypothecated, or otherwise transferred, unless such transfer is
made in compliance with the Act and the State Acts.
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GASCO ENERGY, INC.
8.00% Convertible Debenture
$_______ No. __
Date of Issue: October 15, 2003
GASCO ENERGY, INC., a Nevada corporation (the "Company" or "Borrower"), for
value received, promises to pay to:
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or to its order, (together with any assignee, jointly or severally, the "Holder"
or "Lender") on or before October 15, 2008 (the "Due Date") (unless this
Debenture shall have been sooner called for redemption or presented for
conversion as herein provided), the sum of ________________________________
Dollars ($_______) (the "Principal Amount") and to pay interest on the unpaid
Principal Amount at the rate of 8.00% per annum. All payments of both principal
and interest shall be made at the address of the Holder hereof as it appears in
the books and records of the Borrower, or at such other place as may be
designated by the Holder hereof.
1. Interest. Interest on the Principal Amount outstanding from time to time
shall be payable in monthly installments commencing November 15, 2003, and
subsequent payments shall be made on the first day of each month thereafter
until the Principal Amount and all accrued and unpaid interest shall have been
paid in full. Overdue principal and interest on the Debenture shall bear
interest at the lesser of Eighteen percent (18%) or the maximum rate permitted
by applicable law.
2. Maturity. If not sooner paid, redeemed or converted, this Debenture
shall mature on October 15, 2008 at which time the remaining unpaid Principal
Amount, and all accrued and unpaid interest and any other charges then due under
the Convertible Loan Agreement, shall be due and payable in full. This Debenture
shall be prepaid pro rata with any prepayments of Indebtedness other than Senior
Obligations. This Debenture shall be senior in right of payment to all other
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