Note Repayment. All repayments shall be made in lawful money of the United States of America by wire transfer to a bank account to be designated by the Lender. All Notes outstanding under the Purchase Agreement, and any other Note Purchase Agreement outstanding by the Company as of the date hereof, shall rank equally without preference or priority of any kind with respect to one another, and all payments with respect to any of the Notes that have not been converted shall be applied ratably in proportion to the Loan Amounts represented thereby. The Company shall be entitled to repay all or any portion of the principal or accrued interest outstanding under the Notes upon prior written notice to the Lender.
Note Repayment. Notwithstanding anything herein to the contrary, the Notes will survive the Separation Time. At the Closing, if the full proceeds of the Red Lion Financing are available to USHC, USHC will make the Note Repayment to Indigo and Alberta, as applicable.
Note Repayment. The Note shall be repayable as follows:
a. Upon receipt of Annual Reports for all Years occurring before the Note Interest Date, the City will make a preliminary review based on the cumulative Job Credits claimed. The amount of the cumulative Annual Job Credits earned before the Note Interest Date, adjusted for any adjustments from the preliminary review, shall then be applied against the principal of the Note, effective on the Note Interest Date.
b. After applying the cumulative Annual Job Credits earned by the Applicant before the Note Interest Date, the City shall then amortize the amount due on the Note over 10 years, payable with annual payments on July 1 of each Year and accruing interest at the Applicable Federal Mid-Term rate on the Note Interest Date. The first payment shall be due and payable on July 1, 2024. Upon receipt of the Annual Report, all Annual Job Credits earned for the Year before the payment date shall first be applied to the annual amount owed, and the balance shall be paid to the City by the Applicant on or before the following October 1. After some time, it is anticipated that the Applicant may earn Annual Job Credits in excess of the annual payment amount, and any excess may be applied by the Applicant to the principal of the Note; there is not penalty for prepayment. All credits awarded and all amount received shall first be applied to accrued interest, and then to principal of the Note.
Note Repayment. In the event that the Extended Maturity Date Option is exercised, the principal and interest accruing on the Note shall be repayable in the manner provided therein.
Note Repayment. Within seven days of the Closing, Company shall repay the indebtedness plus all accrued interest owed to Purchaser by Company in the original principal amount of $500,000 and by LinuxMall, Inc. in the original principal amount of $500,000. Purchaser agrees to extend the term of payment of each note representing such indebtedness to the date seven days from the Closing.
Note Repayment. The Borrower undertakes to pay all amounts due on this Note out of the proceeds from and on the closing dates of sales by the Borrower of any equity or debt instruments in amounts equal to fifteen percent (15%) of net future financings until such time that all amounts due under the Note have been repaid.
Note Repayment. The Company hereby agrees to not elect to issue shares of Common Stock as payment of principal and/or interest on the Company’s outstanding Senior Convertible Notes.
Note Repayment. Except as provided on Schedule 6.02(i), all indebtedness payable to the Principal Shareholder or any affiliates including Xxxxxxx-MC, Incorporated and its respective affiliates shall have been converted to Company capital stock.
Note Repayment. Upon the request of the Parent, the Company shall (a) promptly commence a cash tender offer to purchase all of the outstanding 9 1/8 % Senior Subordinated Notes due 2008 of the Company(the "FIXED RATE NOTES") and the Company's 9 1/8 % Floating Interest Rate Subordinated Term Securities due 2008 (collectively the "NOTES") and (b) solicit the consent of the holders of the Notes to amend the Indenture to eliminate all material covenants and related defaults and otherwise to permit the transactions contemplated by this Agreement (including, without limitation, obtaining the financing under the Debt Commitment Letter), which acceptance for payment of the Notes shall be conditioned upon consummation of the Merger (clauses (a) and (b) together, the "DEBT TENDER"); provided, however, subject to the satisfaction of the closing condition set forth in Section 7.02(f)(ii), that to the extent that the Minimum Tender Requirement shall not have been met at least two Business Days prior to the Closing, then the Company shall simultaneously with or immediately before (or to the extent permitted, after the Closing), (i) send or cause to be sent an irrevocable notice of redemption to all holders of outstanding Notes in accordance with the terms of the Indenture, dated as of April 23, 1998, as amended (the "INDENTURE") governing the Notes and (ii) deposit with the trustee under the Indenture (the "TRUSTEE") or such other trustee in accordance with the terms of the Indenture funds necessary to redeem all outstanding Notes and discharge the Indenture in accordance with its terms (the "NOTE REDEMPTION AND DISCHARGE"), which funds shall be provided by Merger Sub from one or more of the transactions contemplated hereby. In the event the Company commences the Debt Tender and consent solicitation in respect of the Notes, to the extent of any outstanding Notes that are not properly tendered (and not withdrawn) and paid for in the Debt Tender, the Surviving Corporation shall simultaneously with or immediately before or after the Closing deliver or cause to be delivered a redemption notice with respect to any Notes that remain outstanding and promptly pay for and redeem such Notes in accordance with the terms of the Indenture. The Surviving Corporation shall take any and all other additional steps or actions and execute any and all additional documents, instruments or certificates necessary to effect the purchase of tendered Notes or redemption of the Notes and satisfaction and dischar...
