Note Payment. On the Closing Date, immediately following the LSH Closing, LSAC shall pay the Note by payment of cash in the amount of its obligations under the Note by wire transfer of(i) $39,800,000 in accordance with the Escrow Agreement in the form attached as Exhibit 1.12 hereto (the "Escrow Agreement"), and (ii) the balance to the Representative for the benefit of the LS Selling Stockholders. The proceeds of the Note (including any amounts released from escrow in accordance with the Escrow Agreement) (the "Note Proceeds") shall be allocated among the outstanding shares of Lear Xxxgxxx Xxxmon Stock in accordance with the Company's Amended and Restated Certificate of Incorporation as though there were a dissolution, liquidation or winding-up of the Company, assuming the assets available for distribution in respect of such outstanding shares of Lear Xxxgxxx Xxxmon Stock were equal to the amount of the Note Proceeds.
Note Payment. Notes with aggregate principal amount equal to the Closing Note Amount shall be delivered to the Shareholders, with each Shareholder receiving a Note with an original principal amount as set forth below: Closing Note Amount Original Principal Amount of Notes Xxxxxx XxXxxxxx MA Corp Xxxxx $ 3,250,000 $ 1,350,000 $ 1,350,000 $ 485,000 $ 65,000
Note Payment. Upon receipt of the Debenture and the cashier's check described herein in payment of the Note, WEDGE shall return the fully executed Note, marked cancelled, and cause all collateral securing the Note to be released, including, without limitation, the release of and return to the Company of all title documents to vehicles held by WEDGE as collateral.
Note Payment. The principal and interest are payable in lawful money of ------------ the United States of America. The undersigned may prepay in full the amount of any principal installment or accrued interest under the Note. The Note shall become payable in full upon the earlier of the following: (1) the term set forth in the Note, (2) default under the Note or (3) upon the first anniversary of the termination of the undersigned's employment with the Company.
Note Payment. For a period of one year following the Closing, NaviSite shall, within two business days of receiving a written request from Surebridge, pay to Surebridge in immediately available funds such additional amounts up to $800,000 in the aggregate, which Surebridge may request in order to meet Surebridge's tax payment obligations in connection with the sale of its assets pursuant to this Agreement that Surebridge substantiates in writing. Payments pursuant to this Section 5.22 shall be deemed a required prepayment of the Primary Note and shall reduce the outstanding principal outstanding thereunder in accordance with its terms. Notwithstanding the foregoing, NaviSite shall not be required to prepay such sums if NaviSite has paid at least $1,300,000 in aggregate principal amount of the Primary Note prior to receipt of the request for a prepayment hereunder.
Note Payment. The amount of one million dollars ($1,000,000) evidenced by a note in the form attached as Exhibit 2.3(b)(ii)(A) hereto (the "Note Payment"). The Note Payment will be guaranteed by Xxxxxxx Xxxxx pursuant to the guarantee attached as Exhibit 2.3(b)(ii)(B). The guarantee will be secured as set forth in the Deed of Trust attached hereto as Exhibit 2.3(b)(ii)(C).
Note Payment. The Company has or anticipates issuing a Note to Wtech Holdings, LLC, (the "Noteholder") in the face amount of $ 20.0 million (the "Wtech Note"). The New Employment Agreement will provide that if more than $10.2 million of principal payments are made by the Company on the Wtech Note then either (x) the Parent or the Company will make a cash payment to Stockholder in an amount equal to 22.5% of the amount of any principal payment in excess of $10.2 million, or (y) Parent will issue a number of additional shares of equity of Parent with a value equal to the payment described in (x) above. If any equity is issued to Stockholder pursuant to the provision described in this clause (iv) such equity will be subject to the same vesting schedule, repurchase rights and transfer restrictions described in clause (ii) above. Any forgiveness of any portion of the Note by the Noteholder will not constitute a payment of principal for this purpose.
Note Payment. Notwithstanding the provisions of Section 6.6 herein, Parent shall cause the Partnership to pay to Xxxxx X. Xxxxxx an amount in cash equal to $191,000 to prepay certain outstanding indebtedness owed to Xx. Xxxxxx, with any such payment to be made on the Payment Date. Further, interest on the Xxxxxx Note shall begin accruing on the Control Date, with the first monthly payment of principal and interest to be paid in accordance with the terms set forth in the Xxxxxx Note and in equal monthly installments thereafter until paid in full.
