Borrower's Promise to Pay Principal and Interest. In return for the funds loaned by Lender to Borrower for the acquisition of PNG common stock, Borrower promises to pay $157,554.25 (the "Principal"), plus interest to the order of the Lender. Interest, at an annual rate of (6.21%) percent will be charged on that part of the Principal which has not been paid from the date of this Note until all Principal has been paid in full, with interest to be accrued semi-annually. See attached Addendum, incorporated herein by reference, for specifics of the transaction(s), which generated the principal due and owing herein.
Appears in 1 contract
Samples: Promissory Note and Security Agreement (Penn America Group Inc)
Borrower's Promise to Pay Principal and Interest. In return for the funds loaned by Lender to Borrower for the acquisition of PNG common stock, Borrower promises to pay $157,554.25 146,370.00 (the "Principal"), plus interest to the order of the Lender. Interest, at an annual rate of (6.21%) percent will be charged on that part of the Principal which has not been paid from the date of this Note until all Principal has been paid in full, with interest to be accrued semi-annually. See attached Addendum, incorporated herein by reference, for specifics of the transaction(s), which generated the principal due and owing herein.
Appears in 1 contract
Samples: Promissory Note and Security Agreement (Penn America Group Inc)
Borrower's Promise to Pay Principal and Interest. In return for the funds loaned by Lender to Borrower for the acquisition of PNG common stock, Borrower promises to pay $157,554.25 8,743.75 (the "Principal"), plus interest to the order of the Lender. Interest, at an annual rate of (6.215.07%) percent will be charged on that part of the Principal which has not been paid from the date of this Note until all Principal has been paid in full, with interest to be accrued semi-annually. See attached AddendumAddendum A, incorporated herein by reference, for specifics of the transaction(s), which generated the principal due and owing herein.
Appears in 1 contract
Samples: Promissory Note and Security Agreement (Penn America Group Inc)
Borrower's Promise to Pay Principal and Interest. In return for the funds loaned by Lender to Borrower for the acquisition of PNG common stock, Borrower promises to pay $157,554.25 19,083.75 (the "Principal"), plus interest to the order of the Lender. Interest, at an annual rate of (6.215.07%) percent will be charged on that part of the Principal which has not been paid from the date of this Note until all Principal has been paid in full, with interest to be accrued semi-annually. See attached AddendumAddendum A, incorporated herein by reference, for specifics of the transaction(s), which generated the principal due and owing herein.
Appears in 1 contract
Samples: Promissory Note and Security Agreement (Penn America Group Inc)
Borrower's Promise to Pay Principal and Interest. In return for the funds loaned by Lender to Borrower for the acquisition of PNG common stock, Borrower promises to pay $157,554.25 9,167.50 (the "Principal"), plus interest to the order of the Lender. Interest, at an annual rate of (6.215.07%) percent will be charged on that part of the Principal which has not been paid from the date of this Note until all Principal has been paid in full, with interest to be accrued semi-annually. See attached AddendumAddendum A, incorporated herein by reference, for specifics of the transaction(s), which generated the principal due and owing herein.
Appears in 1 contract
Samples: Promissory Note and Security Agreement (Penn America Group Inc)
Borrower's Promise to Pay Principal and Interest. In return for the funds loaned by Lender to Borrower for the acquisition of PNG common stock, Borrower promises to pay $157,554.25 97,943.02 (the "Principal"), plus interest to the order of the Lender. Interest, at an annual rate of (6.216.56%) percent percent, will be charged on that part of the Principal which has not been paid from the date of this Note until all Principal has been paid in full, with interest to be accrued semi-annually. See attached Addendum, incorporated herein by reference, for specifics of the transaction(s), which generated the principal due and owing herein.
Appears in 1 contract
Samples: Promissory Note and Security Agreement (Penn America Group Inc)
Borrower's Promise to Pay Principal and Interest. In return for the funds loaned by Lender to Borrower for the acquisition of PNG common stock, Borrower promises to pay $157,554.25 37,361.25 (the "Principal"), plus interest to the order of the Lender. Interest, at an annual rate of (6.215.07%) percent will be charged on that part of the Principal which has not been paid from the date of this Note until all Principal has been paid in full, with interest to be accrued semi-annually. See attached AddendumAddendum A, incorporated herein by reference, for specifics of the transaction(s), which generated the principal due and owing herein.
Appears in 1 contract
Samples: Promissory Note and Security Agreement (Penn America Group Inc)
Borrower's Promise to Pay Principal and Interest. In return for the funds loaned by Lender to Borrower for the acquisition of PNG common stock, Borrower promises to pay $157,554.25 18,681.25 (the "Principal"), plus interest to the order of the Lender. Interest, at an annual rate of (6.215.07%) percent will be charged on that part of the Principal which has not been paid from the date of this Note until all Principal has been paid in full, with interest to be accrued semi-annually. See attached AddendumAddendum A, incorporated herein by reference, for specifics of the transaction(s), which generated the principal due and owing herein.
Appears in 1 contract
Samples: Promissory Note and Security Agreement (Penn America Group Inc)
Borrower's Promise to Pay Principal and Interest. In return for the funds loaned by Lender to Borrower for the acquisition of PNG common stock, Borrower promises to pay $157,554.25 18,483.75 (the "Principal"), plus interest to the order of the Lender. Interest, at an annual rate of (6.215.07%) percent will be charged on that part of the Principal which has not been paid from the date of this Note until all Principal has been paid in full, with interest to be accrued semi-annually. See attached AddendumAddendum A, incorporated herein by reference, for specifics of the transaction(s), which generated the principal due and owing herein.
Appears in 1 contract
Samples: Promissory Note and Security Agreement (Penn America Group Inc)
Borrower's Promise to Pay Principal and Interest. In return for the funds loaned by Lender to Borrower for the acquisition of PNG common stock, Borrower promises to pay $157,554.25 9,143.75 (the "Principal"), plus interest to the order of the Lender. Interest, at an annual rate of (6.215.07%) percent will be charged on that part of the Principal which has not been paid from the date of this Note until all Principal has been paid in full, with interest to be accrued semi-annually. See attached AddendumAddendum A, incorporated herein by reference, for specifics of the transaction(s), which generated the principal due and owing herein.
Appears in 1 contract
Samples: Note and Security Agreement (Penn America Group Inc)