Loan Consideration Sample Clauses

Loan Consideration. On the Final Closing Date, Buyer shall execute two (2) promissory notes, one in the favor of Xxxxx X. Xxxxxxx and one in the favor of Xxxx X. Xxxxxxx, each for the principal amount of One Million One Hundred Fifty Six Thousand Nine Hundred Forty-Four and 50/100 Dollars ($1,156,944.50), with interest at the rate of 6% per annum, payable in thirty-four (34) equal monthly principal installments of $34,027.77 plus applicable interest, the first of such installments to be paid on January 2, 2003, each such note shall be substantially in the form of Exhibit "C" (the "Notes").
Sample 1
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Loan Consideration. Buyer shall execute two (2) promissory notes. The first promissory note shall be in the principal sum of $3,200,000, payable in four equal, annual installments of principal and interest commencing fifteen (15) days after the Buyer has filed each annual report with the Securities and Exchange Commission for the fiscal year 2002. If Buyer fails to maintain its status as a reporting entity, the Earnout Payments shall be made as promptly as practicable(the "Principal Payments"). The second promissory note shall be in the principal sum of $1,000,000, payable in equal, monthly installments over five years, commencing January 10, 2002, to the Sellers. The Principal Payments will be retired, without further notice, at the option of the Buyer, upon any of the following: (i) the Company's making an assignment for the benefit of creditors or admitting in writing its inability to pay its debts generally as they become due; or (ii) the entry of an order, judgment or decree adjudicating the Company or any subsidiary bankrupt or insolvent; or (iii) the Company's petitioning or applying to any tribunal for the appointment of a trustee or receiver of the Company within the meaning of the Securities Act, or of any substantial part of the assets of the company, or commencing any proceedings (other than proceedings for the voluntary liquidation and dissolution of a subsidiary) relating to the Company or a subsidiary under any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution or liquidation law of any jurisdiction whether now or hereafter in effect; or (iv) the filing of any such petition or application, or the commencement of any such proceedings, against the Company, if the Company by any act indicates its approval thereof, consent or acquiescence therein, or the entry of an order, judgment or decree appointing any such trustee or receiver, or approving the petition in any such proceedings, if such order, judgment or decree remain unstayed and in effect for more than 60 days; or (v) the entry of any order, judgment, or decree in any proceedings against the Company or any subsidiary within the meaning of the Securities Act decreeing the dissolution of the company if such order, judgment or decree remains unstayed and in effect for more than 60 days; or (vi) the entry of any order, judgment or decree in any proceedings against the Company or any subsidiary decreeing a split-up of the Company which requires the divestiture of a substantial p...
Sample 1
Loan Consideration. On the Final Closing Date Purchaser shall execute a non-negotiable promissory note for the principal sum of One Million Dollars ($1,000,000), with interest at the rate of four percent (4%) per annum, payable to the Sellers over ten (10) years. Such note shall be substantially in the form of Exhibit "A" hereto (the "Note").
Sample 1

Related to Loan Consideration

  • Acquisition Consideration (a) The consideration (the "ACQUISITION CONSIDERATION") to be received by each Grantor in respect of the contribution of the Grantor's Interests to the Operating Partnership shall be an amount equal to $100.00 (one hundred dollars). The Acquisition Consideration shall be paid in the form of a combination of (i) cash and/or (ii) units of limited partnership interest in the Operating Partnership ("OP UNITS"), in the percentages and allocations set forth on Schedule B attached hereto. To the extent a percentage of the Acquisition Consideration includes one or more OP Units, as set forth on Schedule B, the number of OP Units the Grantor shall be entitled to receive upon the exercise of the Option with respect to such percentage shall equal the quotient of

  • Transaction Consideration The Transaction Consideration;

  • Option Consideration (a) (i) Owner hereby grants to the Operating Partnership an option (the “Option”) to acquire Owner’s interest in the leasehold estate created by the Ground Lease and all hereditaments thereto and all of Owner’s assets (other than Excluded Assets) as of the Valuation Date (collectively, the “Assets”) for the Consideration determined in accordance with Section 2(b), subject to closing adjustments as provided herein.

  • Cash Consideration In case of the issuance or sale of additional Shares for cash, the consideration received by the Company therefor shall be deemed to be the amount of cash received by the Company for such Shares (or, if such Shares are offered by the Company for subscription, the subscription price, or, if such Shares are sold to underwriters or dealers for public offering without a subscription offering, the public offering price), without deducting therefrom any compensation or discount paid or allowed to underwriters or dealers or others performing similar services or for any expenses incurred in connection therewith.

  • Aggregate Consideration 10.1 Agreement.......................................................................

  • Initial Consideration On the Effective Date, Retrocessionaire shall reimburse Retrocedant for one hundred percent (100%) of any and all unearned premiums paid by Retrocedant under such Inuring Retrocessions net of any applicable unearned ceding commissions paid to Retrocedant thereunder.

  • Total Consideration The aggregate consideration (the "Consideration") payable by the Surviving Partnership in connection with the merger of the Merged Partnership with and into the Surviving Partnership shall be $8,275,000, subject to adjustments at Closing pursuant to Section 3.9 and costs paid pursuant to Section 3.10(c) and Section 3.11, plus the amount of any tax or other reserves held by the Existing Lender (hereinafter defined).

  • Stock Consideration 3 subsidiary...................................................................53

  • Purchase Consideration The consideration payable in connection with a purchase transaction shall be debited from the appropriate deposit account of the Portfolio as of the time and date that funds would ordinarily be required to settle the transaction in the applicable market. The Custodian shall promptly recredit the amount at the time that the Portfolio or the Fund notifies the Custodian by Proper Instruction that the transaction has been canceled.

  • Other Consideration As additional consideration, Purchaser shall also assume the Assumed Liabilities at the time of Closing.

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