Common use of Borrower's Promise to Pay Principal and Interest Clause in Contracts

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 $97,943.02 (the "Principal"), plus interest to the order of the Lender. Interest, at an annual rate of (6.20%), will be charged on that part of the Principal which has not been paid form the date of this Note until all Principal has been paid in full, with interest to be accrued semi-annually. See Addendum A attached hereto and incorporated herein, for specifics of the transaction(s) which generated the principal due and owing herein. All accrued and unpaid interest under the Old Note shall carry forward and be due and payable under this Note under the same terms and conditions of the Old Note.

Appears in 1 contract

Samples: Note and Security Agreement (Penn America Group Inc)

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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 $97,943.02 16,830.00 (the "Principal"), plus interest to the order of the Lender. Interest, at an annual rate of (6.20%), will be charged on that part of the Principal which has not been paid form from the date of this Note until all Principal has been paid in full, with interest to be accrued semi-annually. See attached Addendum A attached hereto and A, incorporated hereinherein by reference, for specifics of the transaction(s) ), which generated the principal due and owing herein. All accrued and unpaid interest under the Old Note shall carry forward and be due and payable under this Note under the same terms and conditions of the Old Note.

Appears in 1 contract

Samples: 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 $97,943.02 157,554.25 (the "Principal"), plus interest to the order of the Lender. Interest, at an annual rate of (6.206.21%), ) percent will be charged on that part of the Principal which has not been paid form from the date of this Note until all Principal has been paid in full, with interest to be accrued semi-annually. See attached Addendum A attached hereto and A, incorporated hereinherein by reference, for specifics of the transaction(s) ), which generated the principal due and owing herein. All accrued and unpaid interest under the Old Note shall carry forward and be due and payable under this Note under the same terms and conditions of the Old Note.

Appears in 1 contract

Samples: 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 $97,943.02 55,147.50 (the "Principal"), plus interest to the order of the Lender. Interest, at an annual rate of (6.206.22%), ) percent will be charged on that part of the Principal which has not been paid form from the date of this Note until all Principal has been paid in full, with interest to be accrued semi-annually. See attached Addendum A attached hereto and A, incorporated hereinherein by reference, for specifics of the transaction(s) ), which generated the principal due and owing herein. All accrued and unpaid interest under the Old Note shall carry forward and be due and payable under this Note under the same terms and conditions of the Old Note.

Appears in 1 contract

Samples: Note and Security Agreement (Penn America Group Inc)

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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 $97,943.02 146,370 (the "Principal"), plus interest to the order of the Lender. Interest, at an annual rate of (6.206.08%)) , will be charged on that part of the Principal which has not been paid form from the date of this Note until all Principal has been paid in full, with interest to be accrued semi-annually. See Addendum A A, attached hereto and incorporated herein, for specifics of the transaction(s) ), which generated the principal due and owing herein. All accrued and unpaid interest under the Old Note shall carry forward and be due and payable under this Note under the same terms and conditions of the Old Note.

Appears in 1 contract

Samples: Note and Security Agreement (Penn America Group Inc)

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