Payment of Loan Upon Expiration of the Initial Term Sample Clauses

Payment of Loan Upon Expiration of the Initial Term. If the --------------------------------------------------- Initial Term expires and Executive has not been terminated for Cause or voluntarily resigned without Good Reason as of the date of expiration of the Initial Term, then the Company will forgive 50% of the principal and accrued interest then payable under the Note. Executive will be obligated to pay off the remaining 50% of principal and accrued interest then payable under the Note.