Loan to Company. On January 15, 1997, Parent will make a loan (the "Additional Loan") in the amount of $250,000 to the Company to be used by the Company exclusively for operating expenses in the ordinary course. The Company shall use such funds in consultation with Parent. The Additional Loan will be evidenced by a promissory note in substantially the form of the Convertible Note and will be secured by that certain License Agreement dated of even date herewith between the Company and Parent (the "License Agreement"). ARTICLE V
Loan to Company. Subject to the terms and conditions hereof, CapEx agrees to loan to the Company and the Company agrees to borrow from CapEx the Additional Advance of One Million Five Hundred Thousand Dollars (US$1,500,000). The Additional Advance shall be evidenced by, and payable in accordance with the terms and conditions of, the Amended and Restated Debenture issued to CapEx under the terms of this Agreement.
Loan to Company. Upon the execution and delivery of this Agreement by each of the Members, Caltxx, Xxc. and the Company shall execute and deliver the Promissory Note.
Loan to Company. Immediately following the M.I. Redemption, C-Stone shall loan an amount equal to the DIHC Redemption Price determined in accordance with Section 6 below to the Company either by advancing additional funds under the MSDI Loan, if the same can be advanced thereunder without exceeding the maximum principal balance thereof, or making a new recourse loan to the Company in such amount, such a new loan to be evidenced by a Promissory Note and Loan Agreement to be executed by the Company in favor of C-Stone in the form of Exhibit "C" annexed hereto. The proceeds of any such loan shall be paid to the Company by electronic transfer of federal funds pursuant to wire instructions to be provided to C-Stone by the Company.
Loan to Company. Investor agrees to lend Company principal in the amount of up to two million five hundred thousand dollars ($2,500,000.00), the outstanding amount of which shall bear interest at a rate of eight percent (8%) per annum, with payments of interest only to be made over a period of two (2) years until the maturity date (the “Maturity Date”) on the second anniversary of this Agreement, when all remaining accrued interest and principal shall be due and payable, with pre-payment allowed without penalty, and otherwise pursuant to the terms and conditions contained in the secured term note attached hereto as Exhibit A (the “Secured Term Note”). All overdue amounts under the Secured Term Note shall accrue interest at shall mean twelve percent (12%) in cash per annum based on the actual number of days elapsed in a 360-day calendar year, effective as of the date of default, and shall be due and payable on demand.
(i) One million five hundred thousand dollars ($1,500,000.00) of the principal of the Secured Term Note shall be tendered by Investor to the Company on the Closing Date; and
(ii) Upon the written consent of Investor, which shall be either given or rejected in Investor’s sole and absolute discretion within five (5) business days after a request by the Company for additional principal delivered to Investor at any time prior to the Maturity Date, the remaining one million dollars ($1,000,000.00) of the principal of the Secured Term Note (assuming Investor does not reject such request(s)) shall be tendered (in increments of five hundred thousand dollars ($500,000.00) by Investor to the Company.
Loan to Company. The Parent shall cause its subsidiary to make funds available to the Company in accordance with that certain Loan Agreement by and between the Company and Lernout & Hauspie Speech Products USA, Inc., a wholly-owned subsidiary of the Parent ("L&H USA"), dated the date hereof (the "Loan Agreement"). The Company shall, and the Parent shall cause L&H USA to, comply in all material respects with their respective agreements, obligations and covenants under the Loan Agreement.
Loan to Company. Nothing in this Agreement shall prevent any Member from making secured or unsecured loans to the Company by agreement with the Company.
Loan to Company. INVO commits to issuing debt to the Company in an amount up to Six Hundred Thousand Dollars ($600,000) for construction or improvements related to the INVO Clinic (the “Build-Out Loan”) upon terms and conditions mutually agreeable to INVO and Company. Any amount payable to INVO by the Company in connection with the Build-Out Loan will accrue interest at three and one-quarter percent (3.25%) per annum and will be payable with interest no later than five (5) years from the date of the Build-Out Loan. INVO may, in its discretion, secure third party debt in connection with funding the Build-Out Loan; provided, however, in no event shall INVO pledge any part of its Units or assets of the Company as collateral for any third party debt.
Loan to Company. Mr. Schwartz agrees to adxxxxx xx xxe Company, by way of loan, $25,000, such loan to be evidenced by the Non-Negotiable Promissory Note in the form attached hereto as Exhibit A (the "Note").
Loan to Company. The parties hereto acknowledge and agree that Caltxx, Xxc. agreed to make advances to the Corporation under the Promissory Note pursuant to, and subject to the terms set forth in, Section 5.2 of the Stock Acquisition Agreement dated as of January 27, 2000 among Taytrowe Van Xxxxxxxxx Xxxld Companies, Inc., the Corporation, Stevxx X. Xxxxxxxxx, Xxomxx X. Xxx Xxxxxxxxx, Xxomxx X. Xxxxxx xxx Caltxx, Xxc. (the "Stock Acquisition Agreement"). The parties hereto agree that the Company shall inure to the rights of and hereby assumes the repayment obligations of the Corporation under Section 5.2 of the Stock Acquisition Agreement and that any advances under the Promissory Note shall hereinafter be made to the Company. SECTION IV PROFIT, LOSS, AND DISTRIBUTIONS
