MODIFICATION OF PROMISSORY NOTE. The maturity date of the Promissory Note is changed from December 31, 2014 to March 15, 2015. On the revised maturity date, Borrower shall pay to Lender the unpaid principal, accrued and unpaid interest, and all other amounts payable by Borrower under the Promissory Note and Loan Documents.
MODIFICATION OF PROMISSORY NOTE. 2.1 The Promissory Note is hereby amended and restated to read as follows:
MODIFICATION OF PROMISSORY NOTE. The management stock loan due date was changed to be the earlier of (a) March 30, 2013, or (b) the Breakeven Date as defined by the May 2004 modifications. The interest rate on the loans will increase from 3.16 percent compounded annually to 4.72 percent compounded annually.
MODIFICATION OF PROMISSORY NOTE. The Promissory Note shall be modified as follows:
MODIFICATION OF PROMISSORY NOTE. On and from the Supplement No. 2 ------------------------------- Effective Date (as defined in Section 3 hereof), the Promissory Note shall be amended as follows:
a. The definition of "Loan Documents" in Section 1 of the Promissory -------------- Note is amended by inserting immediately after the words "Supplemental Agreement No. 1", a comma and the words "Supplemental Agreement No. 2".
MODIFICATION OF PROMISSORY NOTE. This Modification of Promissory Note ("Modification") is made this 21st day of August 2000 by and between Xxxxxxx X. Xxxxxxxxxx ("Maker") and STAAR Surgical Company ("Holder") in reference to the following facts: RECITALS
MODIFICATION OF PROMISSORY NOTE. The following provisions are deemed to be part of the Note, and any contrary provisions in the Note are deemed to be modified hereby:
2.1 The first sentence of the section entitled "PAYMENT" is hereby amended and restated to read as follows: "This Note shall be payable as follows: Interest shall be due and payable monthly as it accrues, commencing on April 17, 2001, and continue on the same day each month thereafter during the term of this Note, and the outstanding principal balance of this Note, together with all accrued but unpaid interest, shall be due and payable on September 30, 2002."
2.2 The section entitled "ADDITIONAL PROVISION-REPAYMENT" is hereby amended and restated to read as follows: "The outstanding principal and all outstanding interest owing under this Note shall be due and payable on September 30, 2002."
2.3 Each of the Loan Documents is modified to provide that it shall be a default or an event of default thereunder if Borrower shall fail to comply with any of the covenants of Borrower herein or if any representation or warranty by Borrower herein or by any guarantor of the Loan in any Acknowledgement and Consent attached to this Agreement is materially Incorrect or misleading on the Agreement Date. As used in this Agreement, "Loan Documents" shall include the Note, this Agreement and all other documents executed by Borrower or others in connection with the Loan that is evidenced by the Note. "Loan Documents" shall not include any security agreement executed by Borrower with respect to his Catalyst stock options.
MODIFICATION OF PROMISSORY NOTE. Effective as of the date hereof, the principal sum of the Promissory Note shall be reduced to One Million and No/100 Dollars ($1,000,000.00) or so much of the principal amount of the Revolving Loan represented by the Promissory Note as may be disbursed by the Lender under the terms of the Credit Agreement, as amended.
MODIFICATION OF PROMISSORY NOTE. The following provisions are deemed to be part of the Note, and any contrary provisions in the Note are deemed to be modified hereby:
2.1 From and after the Effective Date, the amount of the Note, and the maximum principal amount that may at any time be outstanding thereunder, is hereby decreased to $2,500,000.00.
2.2 Each of the Loan Documents is modified to provide that it shall be a default or an event of default thereunder if Borrower shall fail to comply with any of the covenants of Borrower herein or if any representation or warranty by Borrower herein or by any guarantor of the Loan or third-party pledgor of collateral securing the Loan in any Acknowledgement and Consent attached to this Agreement is materially incorrect or misleading on the Agreement Date. As used in this Agreement, "Loan Documents" shall include the Note, this Agreement and all other documents executed by Borrower or others in connection with the Loan that is evidenced by the Note.
MODIFICATION OF PROMISSORY NOTE. Simultaneously with the execution hereof, Xxxxxxxx will execute and deliver to MBI a modification of the Promissory Note in the form attached hereto as Exhibit 2.
