Payment of Promissory Note. Upon the consummation of the Merger, Advantix shall cause Lasergate, or its successor, to pay to RBB all amounts as they become due under the terms of that certain Promissory Note issued by Lasergate in favor of RBB in the original principal amount of $300,000.
Payment of Promissory Note. The Promissory Note shall bear interest and shall be payable in accordance with the terms and conditions hereof.
Payment of Promissory Note. The Borrower agrees to make the principal and interest payments on the Promissory Note in the manner and amounts and the times and places specified therein.
Payment of Promissory Note. Seller hereby directs that Buyer distribute the Purchase Price in immediately available federal funds by wire transfer to Kremxxx xxx Filkxxxx, xxrsuant to wire transfer instructions delivered by Kremxxx xxx Filkxxxx xx Buyer, in payment of the Promissory Note.
Payment of Promissory Note. On or prior to the Closing ------------ -------------------------- Date, CHCI shall have paid or cause to be paid in cash from funds other than Post-September 1 Hospitality Revenues all outstanding amounts of principal, interest or other amounts owed under the promissory note dated October 2, 1995 issued by CHC REIT Management Corporation to Patriot American Hospitality, L.P. (now named Patriot American Hotel Notes Partnership, L.P.) in the original principal amount of $3,750,000 and which, as of the next scheduled payment date on October 25, 1997, will have an outstanding balance of principal and accrued interest equal to $4,548,186.
Payment of Promissory Note. On or before the Closing Date, the Company shall pay in full the outstanding principal amount plus any accrued and unpaid interest on the Company’s promissory note dated January 31, 2003 and due January 31, 2007 in the current approximate amount of $3.88 million in favor of Xxxxx X. Xxxxxx.
Payment of Promissory Note. Upon presentation of that certain Promissory Note dated January 1, 2014, attached hereto as Exhibit A, in the principal amount of $793,151 by DNR to the Company, marked "Paid in Full", the Company shall simultaneously issue 65 fully paid, nonassessable restricted shares of its 7% Series A2 Convertible Preferred Stock, and it shall pay to DNR the sum of $303,229. DNR shall deliver a subscription agreement pursuant to the Memorandum at said time, as well.
Payment of Promissory Note. The payment of the Note, including all principal and interest payments, shall be payable to the Sellers pursuant to the terms of the Note. Upon full payment of the principal and interest of the Note, a copy of which is attached hereto as Exhibit "A", the Sellers shall deliver the original Note to the Escrow Agent and the Escrow Agent shall forward the original Note marked "canceled" together with the stock certificates and stock powers to the Buyer. Upon return of the Note, stock certificates and stock powers, the Escrow Agent shall have no further responsibility hereunder.
Payment of Promissory Note. The Purchaser acknowledges its obligation to pay the amounts due and owing under the promissory notes contemplated at paragraph 1.2 herein on or before March 17, 2006, without requirement for demand or notice from the Vendors or the Principals. If the Purchaser fails to make payment of the amounts due under such promissory notes on March 17, 2006, the Vendors and the Principals shall have the option to either:
(a) accept the promissory notes in full satisfaction of the Purchase Price, make demand for payment of all amounts due and owing under such promissory notes and take all such steps and actions as they determine appropriate and necessary to ensure the full payment of the principal and all accrued but unpaid interest on such promissory notes; or
(b) demand that the Purchaser and EI Canada return to the Vendors all of the Purchased Shares and Shareholder's Loan in exchange for the payment by the Vendors and the Principals to the Purchaser of $250,000 of the $400,000 payment made pursuant to the SPA and the delivery to the Purchaser of the promissory notes referred to in paragraph 1.2 herein and all of the common shares issued to the Vendors and the Principals pursuant to paragraph 2.3 of the SPA. If the payment by the Purchaser of the promissory notes in the aggregate amount of $760,000 are not made by March 17, 2006, the Vendors and the Principals shall have until March 31, 2006 to provide written notice to the Purchaser of their election pursuant to this paragraph 1.3, and in the absence of providing written notice to the Purchaser by such date shall be deemed to have elected to accept the promissory notes in satisfaction of the balance of the Purchase Price as contemplated in paragraph 1.3 herein. Until such time as the Purchaser either pays to the Vendors and the Principals the $760,000 contemplated herein, or the Vendors and the Principals make the election contemplated in this paragraph 1.3 (the "Final Pymt Date"), the Purchaser and EI Canada shall not take any steps or take any actions in relation the business and affairs of PacGeo or ESE which would materially affect the business affairs of either such company, other than the provision of security by each of ESE and PacGeo to support the securing of sufficient funds by the Purchaser to effect payment of the Purchase Price. For greater certainty, until the Final Pymt Date the Purchaser and EI Canada shall not terminate the employment of any employees, change or modify the terms of any financing w...
Payment of Promissory Note. Until the Promissory Note has been performed in full, the Guarantor shall not have any right to subrogation against Company or OSP, and the Guarantor waives:
4.6.1 any right to enforce any remedy which OSP now has or may hereafter have against Company, and
4.6.2 any benefit of, and any right to participate in, any security now or hereafter held by OSP.
