Notes Payable. The term "Notes Payable" shall mean any and all indebtedness of Seller (i) pursuant to a credit facility dated March 13, 1997 ("WCMA Note, Loan and Security Agreement") between Seller and Xxxxxxx Xxxxx Financial Business Services, Inc. in the aggregate original principal amount of $300,000 due March 1998, or (ii) to Citibank.
Notes Payable. The notes payable referred to in Section ------------- 4.15(c) shall have been paid prior to or at Closing and such payment shall not be accomplished by using Company assets or incurring Company debt.
Notes Payable. With respect to the Borrower and all Restricted Subsidiaries, all Indebtedness for money borrowed other than promissory notes issued as earnest money for contracts, non-recxxxxx promissory notes for seller financing and notes payable for insurance premiums and capitalized lease obligations.
Notes Payable. EXHIBIT C --------- Attached is the results of a UCC lien and judgment lien search conducted through December 5, 2000 by Charles Baclet and Associatxx, Xxx. xx Xxcember 27, 2000. EXHIBIT D --------- EXCEPTIONS TO REPRESENTATIONS AND WARRANTIES -------------------------------------------- The following are exceptions to the indicated representations and warranties of the Company contained in Section 3 of the Debenture Placement Agreement (the "Agreement"):
Notes Payable. The term “
Notes Payable. At December 31, 1998 and 1997, notes payable consisted of the following: 1998 1997 -------- -------- Senior Credit Facility................................. $101,463 $110,000 Senior Subordinated Notes.............................. 100,000 100,000 -------- -------- 201,463 210,000 Less current portion................................... (3,398) (1,350) -------- -------- $198,065 $208,650 ======== ======== Senior Credit Facility--In connection with the Recapitalization, the Company entered into a Senior Credit Facility agreement on December 29, 1997, which provides for a revolving credit facility of $90,000 which, subject to certain conditions, can be increased to $115,000 and a term loan facility totaling $110,000. This agreement is secured by a pledge of substantially all of the Company's assets. The revolving credit facility is for a period of five years and requires a cleandown to less than $15,000 for thirty consecutive days during each twelve month period beginning April 1, 1998. Borrowings are limited to the lessor of $90,000 (unless the maximum has been increased to as much as $115,000, as provided for in the agreement) or 50% (60% from July 1-October 31 of each year) of eligible inventory, as defined. The availability is further reduced by the aggregate undrawn amount of outstanding letters of credit. At the Company's option, the amount borrowed will bear interest at either LIBOR plus 2.50% or the lender's alternate base rate plus 1.50%. There is a provision within the agreement to reduce the interest rates as the leverage ratio is reduced. The interest rate was reduced by 0.25% in early 1999 due to an improvement in the leverage ratio at December 31, 1998. The term loan facility consists of two tranches designated A and B. Tranche A term loans are for $40,000 and mature in five years while Tranche B term loans are $70,000 and mature in seven years. At the Company's option, Tranche A term loans bear interest at LIBOR plus 2.50% or the Alternate Base Rate plus 1.50%. Tranche B term loans bear interest at LIBOR plus 3.00% or the Alternate Base Rate plus 2.00%. The term loan interest rates will also be reduced as the leverage ratio is reduced. The interest rate was reduced by 0.25% in early 1999 due to an improvement in the leverage ratio at December 31, 1998. The Company had no balances outstanding related to the revolving line of credit at December 31, 1998. The remaining availability under the credit facility was $40,600 at December 31, 1998. As of D...
Notes Payable. Existing & New consists of the total outstanding principal balance related to the all existing and new sources of debt, if any, less the Current Portion – Existing Debt category.
Notes Payable. In October 1996, Extreme entered into a note payable with a bank that allowed the Company to borrow up to $400,000. Interest was payable monthly based on an annual rate of 11%. The note was secured by Extreme's assets. The note was paid off during the fiscal year ended June 30, 1999. In November 1996, Extreme entered into a $300,000 note payable agreement with a leasing company. The note accrued interest monthly based on an annual rate of 9%. The note was secured by all of Extreme's fixed assets. The note was paid off during the fiscal year ended June 30, 1999. In November 1997, Extreme entered into a $2,000,000 note payable with a leasing company. The note accrued interest monthly based on an annual rate of 9.75%. The note was secured by all of Extreme's fixed assets. The note was paid off during the fiscal year ended June 30, 1999.
Notes Payable. The Company issued long-term debt totaling $100 million during 1996 and 1997 to provide completion financing for the Company's trading facility and headquarters. This issue contained three series each with different maturities, interest rates, and required repayment schedules. Series A notes require annual principal repayments from 2001 to 2010, and a final payment of principal in 2011. Series B notes require annual principal repayments from 2011 to 2020, and a final payment of principal in 2021. Series C notes require annual principal repayments from 2022 to 2025, and a final payment of principal in 2026. The notes represent senior unsecured obligations of the Company and are not secured by the facility, the Company's interest therein, or any other collateral. Notes payable consisted of the following at December 31: 2002 2001 ------- ------- (IN THOUSANDS) Private Placement Notes:
Notes Payable. Notes Payable includes all loans and borrowings classified as financial liabilities, including current and non-current accrued interest, unamortized discounts, and payoff amounts (note that the value included in Schedule A may be different than the liabilities recorded in the financial statements that are net of unamortized costs), less specified notes receivable. For further clarity, financial liabilities include, but are not limited to, credit facilities, bridge loans, subordinated debt and any indebtedness in relation to ongoing business operations. All lease obligations are excluded from notes payable in Schedule A. URBN notes payable include the following: South Mountain mortgage on 000 Xxxx Xxx Xxxxxx $7,041,199 South Mountain mortgage on 000 Xxxx Xxxxx Xxx $4,208,609 Senior Debt from certain Series A Preferred Holders $7,533,844 Bridge financing received by UL Holdings Inc. from Cresco Capital Partners II, LLC and Harborside which was advanced on July 23, 2021 as part of signing the Letter of Intent $6,615,917 Other loans which include [ULH Lafayette, ULH UL Visalia, ULH JLM Investment Group (net of double payment), SBC Buyout, SBC Private Loans] $943,305 URBN notes receivable, offsetting notes payable, include the following: Otay Mesa notes receivable $1,150,000 Harborside and Xxxxxxx notes payable include the following:
