Employee Notes. The Company shall have made arrangements reasonably acceptable to Parent with those employees of the Company who have purchased capital stock of the Company through the issuance of notes to the Company (the "EMPLOYEE NOTES") to have such Employee Notes paid in full on or prior to the Closing Date.
Employee Notes. In compliance with appropriate law, rule and/or regulation:
Employee Notes. 20 (f) Xxxxxx Credit Agreement.....................................................................20 ARTICLE V
Employee Notes. All notes or other evidences of Indebtedness owed by any of the Company’s employees or affiliates to the Company shall have been repaid or otherwise satisfied in full on terms satisfactory to Parent.
Employee Notes. As of March 31, 1999, Xxxxxxx is indebted to the Company under three (3) separate promissory notes dated May 2, 1997, June 2, 1997 and June 11, 1997 (the "Notes"). Each of the Notes is due and payable in full on the second anniversary of its issuance. As of March 31, 1999, the aggregate principal and accrued interest due on the Notes is Eighty Thousand One Hundred Forty-nine Dollars and Twenty-six Cents ($80,149.26). The Notes shall continue to bear interest in accordance with their respective terms, and shall be payable as stated therein. In the event Xxxxxxx does not make any required payments on the respective due dates thereof, the Company reserves the right in its discretion to apply any amounts otherwise payable to Xxxxxxx under Section 2 of this Agreement to the repayment of the Notes.
Employee Notes. 33 7. INDEMNIFICATION.........................................................................................33 7.1. Survival of Representations and Warranties.....................................................33 7.2. Indemnification by the Selling Stockholders....................................................33 7.3. Indemnification by Each Purchaser..............................................................34 7.4. Third Person Claims............................................................................34 7.5. Limitation of the Selling Stockholders' Liability..............................................35 7.6. Limitation of the Purchasers' Liability........................................................36
Employee Notes. All of the promissory notes payable to Subsidiary for the purchase of, and secured by pledges of, shares of Subsidiary common stock heretofore purchased by employees of Subsidiary shall have been paid in full.
Employee Notes. Each of the Employee Loans is evidenced by a promissory note (together with all amendments, extensions, renewals, or replacements thereof, an "EMPLOYEE NOTE" and, collectively, all such notes, "EMPLOYEE NOTES") issued to Bank of America by the Qualified Employee to whom the Employee Loan was made substantially in the form of EXHIBIT B to the Existing Credit Agreement. Each existing Employee Note shall be amended, restated and replaced in its entirety by a new Employee Note substantially in the form of EXHIBIT B hereto and each such new Employee Note shall evidence the Employee Loans made to the Qualified Employee that issued the new Employee Note. Each Employee Loan shall mature on the seventh September 30 following the original funding of the corresponding Employee Loan.
Employee Notes. Each of the Employee Loans shall be evidenced by a promissory note (together with all amendments, extensions, renewals, or replacements thereof, an "Employee Note" and, collectively, all such notes, "Employee Notes") issued to NationsBank by the Qualified Employee to whom the Employee Loan is made substantially in the form of Exhibit B. Each Employee Note shall mature on the earliest of (i) the seventh September 30 following the funding of the corresponding Employee Loan, (ii) one calendar year after the Qualified Employee to or for the benefit of whom the Employee Loan is made ceases to be a Qualified Employee and (iii) the date upon which any of the common stock purchased with the Employee Loan is sold. The Revolving Credit Notes and the Employee Notes are sometimes herein referred to collectively as the "Notes".
Employee Notes. The aggregate outstanding principal balance under the Employee Notes will, at no time, exceed an amount equal to $25,000,000 (except only as such amount may be increased to a maximum of $37,500,000, with a corresponding decrease in the Aggregate Revolving Credit Commitment, pursuant to Section 2.8(d) or decreased pursuant to Section 2.8(e)); and
