Demand Notes. At no time shall (i) Dairy Group cause or permit the aggregate outstanding principal balance of its Demand Note to exceed $21,325,653 or (ii) Dairy Group II cause or permit the aggregate outstanding principal balance of its Demand Note to exceed $13,181,876.
Demand Notes. The Shareholder shall have been released from its obligations under the Demand Notes, and the Buyer shall have provided for capitalization of the Company in the amount of at least $6 million.
Demand Notes. The Sellers shall cause each holder of a Demand Note to exercise simultaneously with the Effective Time its right to have the Demand Notes held by such holder repaid in shares of theglobe Common Stock in accordance with the original terms of such Demand Notes, which shall result in the delivery to the holder of each Demand Note of an amount of shares of theglobe Common Stock equal to the product of the number of Demand Note Company Shares deemed allocable to the Demand Notes held by such holder multiplied by the Merger Consideration Per Share. Such delivery shall be in full satisfaction of all amounts owing and all other obligations of the Company and theglobe arising under and with respect to the Demand Notes, and such delivery shall be deemed made at the Closing and the holder of the Demand Notes shall be deemed to be the record holder of such shares for all purposes. The Sellers shall deliver each Demand Note at the Closing, at which each such Demand Note shall be cancelled.
Demand Notes. Each of the Demand Notes shall have been repaid for shares of theglobe Common Stock in accordance with Section 5.17 and the terms of such Demand Note.
Demand Notes. 3.1 In connection with the execution and delivery of this Amendment, on April 1, 2024, the Company shall issue and sell to Purchaser, and Purchaser shall purchase from Company, a Demand Note with a principal amount of $1.5 million (the “Initial Demand Note”).
3.2 Subject to Section 3.3 and the terms and conditions of the Existing Agreement, Purchaser may purchase from Company up to $13.5 million in principal amount of Demand Notes, each at such time and in such principal amount as specified on the schedule set forth below or on such other schedule and/or in such other principal amount as the Company and Purchaser may agree, and if so purchased, the Company shall issue to Purchaser such Demand Note:
3.3 Notwithstanding anything to the contrary herein, other than with respect to the Initial Demand Note, Purchaser shall have no obligation to purchase any Demand Note, and Purchaser may decline to purchase any Demand Note in its sole discretion.
3.4 Notwithstanding anything herein to the contrary, the Company shall not issue any Conversion Shares in connection with the conversion of any Demand Note, and Purchaser shall not have any right to receive any such Conversion Shares, unless and until the Sixth Amendment Stockholder Approval Effectiveness Date occurs.
Demand Notes. The Company shall hold Demand Notes such that, at all times, the ratio of the Value of such Demand Notes to the aggregate Unrecovered Capital of the Class A Limited Members shall be at least 1:1.
Demand Notes. The Trustee under the Series 2010-2 Supplement hereby agrees to deliver as promptly as practicable the Series 2010-2 Demand Note issued by DTAG in connection with the Series 2010-2 Supplement to DTAG for cancellation (and by its signature below, RCFC hereby consents and agrees to such delivery and cancellation).
Demand Notes. The General Partner currently holds promissory notes from the holders of the Limited Partnership Interests, in the aggregate principal amount of $__________. Upon the merger, such promissory notes will be cancelled by the General Partner, and the Company, as the sole limited partner of the Surviving Limited Partnership, shall deliver to the General Partner a promissory note in the principal amount of $__________, payable to the General Partner on the same terms and conditions as the cancelled promissory notes.
Demand Notes. 20 Section 8.8 Counterparts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Section 8.9 Notices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Section 8.10 Headings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Section 8.11 Governing Law . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Exhibit A - Schedule of Series 1996-1 Leases and Series 1996-1 Leased Vehicles Exhibit B - Form of Series 1996-1 Certificate Exhibit C - Form of Lease
Demand Notes. In connection with the capitalization of Ford Credit Leasing, RCL Trust 1996-1 and the Lease Trust, Ford Credit has issued to each of Ford Credit Leasing and RCL Trust 1996-1 certain Demand Notes allowing the payees thereunder to receive certain sums upon demand. Any such Demand Note may be cancelled or reduced in amount if an Opinion of Counsel is delivered to the effect that such action would not cause FCTT, RCL Trust 1996-1 or the Lease Trust to be classified as an association (or publicly traded partnership) taxable as a corporation for federal income tax purposes. Ford Credit hereby covenants to deliver prompt written notice to each Rating Agency in the event that any such Demand Note is cancelled or reduced in amount or any payment of principal is made to any holder of any such Demand Notes
