Payment of Promissory Notes Sample Clauses

Payment of Promissory Notes. Xxxxxxx Xxxxxxx has issued promissory notes to the Company as listed on Schedule 6.13. Orlando’s notes will be paid in equal quarterly payments (“Note Payments”) payable on October 1, January 1, April 1 and July 1 of each year for a period of four (4) years. The initial payment will be a double payment due on January 1, 2018 (comprised of the January 1, 2018 payment and the deferred October 1, 2017 payment) on which date Orlando will receive two (2) quarterly payments. All Note Payments after the initial payment will be single payments payable.
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Payment of Promissory Notes. At or prior to the Closing, --------------------------- Lalit Kapoor and Xxxxxx Xxxxx shall have paid in full, with interest, all amounts owing to the Company pursuant to promissory notes held by the Company in the principal amounts listed on Schedule 2.17(b) and the promissory note ---------------- described in Schedule 2.9(m). ---------------
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Payment of Promissory Notes. The parties hereto acknowledge that on May 7, 2003 the Corporation delivered to each of Lincolnshire and Nooya a promissory note of the Corporation in the principal amount of $2,467,333, payable on demand, without interest (each a "Promissory Note" and collectively the "Promissory Notes"). Each of the parties agrees that it will not demand payment of its Promissory Note unless, simultaneously therewith, demand for payment of the other Promissory Note is made by the other party and, in each case, such demands result in full payment of the Promissory Notes to the parties hereto. The Corporation hereby agrees that it will repay both of the Promissory Notes out of the proceeds received from tax refunds of Part IV Tax as and when received and that, after complete repayment of the Bank Loan, if the Promissory Notes have not theretofore been paid, they will be so paid by the Corporation as soon as feasible, subject to prior payment of cumulative dividends on the Class A preferred shares and the Class N preferred shares of the Corporation.
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Payment of Promissory Notes. Transferors hereby covenant to Transferee that they shall satisfy their payment obligations under their respective Promissory Notes (as such term is defined in the Purchase Agreement) on or before July 1, 2007.
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Payment of Promissory Notes. As soon as possible after the Closing (defined below), the Buyer upon repayment of the Promissory Notes shall issue to each holder of a Promissory Note 87,500 shares (after giving effect to the reverse stock split described above) of the Company’s common stock.
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Payment of Promissory Notes. Buyer shall have paid the principal balance and all of the accrued and unpaid interest under those certain promissory notes of the Company referred to below (the "Promissory Notes Payment"), which amount shall be payable to the holders of those promissory notes in part in cash and in part by the issuance of IHS Stock, based upon the valuation and otherwise issuable in accordance with and subject to Section 2.2 hereof. The amounts of cash and IHS Stock payable under this Section 10.10, and the holders to whom these amounts shall be payable, are as follows: Note Holder Note Cash Payable IHS Stock Lifeway Partners, LLC 1) Promissory Note dated 11/17/95 in the Original Principal Amount of $750,000.00 $ 0 $ 750,000.00 accrued interest $ 74,836.00 $ 0
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Payment of Promissory Notes. SubCorp shall have paid to (a) James K. Noble, Jr. the then outstanding principal balance, pxxx xxxxxxx xxx xxxaid interest, owed by NATN to Mr. Noble pursuant to the Noble Promissory Note, and (b) Chrixxxxxxx X. Hodges the then outstanding principal balance, xxxx xxxxxxx xxx xxxaid interest, owed by NATN to Mr. Hodges pursuant to the Hodges Promissory Note.
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Payment of Promissory Notes. At the Closing, Action shall pay to the Estate, as holder of that certain Promissory Note dated August __, 1996, and that certain Revolving Credit Promissory Note dated August __, 1996, each between the Company, as maker, and Vincxxx X. Xxxxxxxx, xx payee and each as modified by that certain Note Modification Letter Agreement dated November 19, 1998 between the Company and the Estate (collectively and as modified, the "Notes"), the outstanding principal amount of $600,000.00 together with accrued and unpaid interest in the amount of $60,000.00.
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Related to Payment of Promissory Notes

  • Promissory Notes Any Lender may request that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall prepare, execute and deliver to such Lender a promissory note payable to such Lender (or, if requested by such Lender, to such Lender and its permitted registered assigns) and in a form attached hereto as Exhibit C. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such form payable to the payee named therein (or, if such promissory note is a registered note, to such payee and its permitted registered assigns).

  • Payment of Notes 45 Section 4.02 Maintenance of Office or Agency................................................................ 45 Section 4.03 Reports........................................................................................ 45 Section 4.04

  • Payment of Proceeds Borrower shall forthwith upon receipt of all proceeds of Collateral, pay such proceeds (insurance or otherwise) over to Lender for application against the Obligations in such order and manner as Lender may elect.

  • Secured Promissory Notes The Term Loans shall be evidenced by a Secured Promissory Note or Notes in the form attached as Exhibit D hereto (each a “Secured Promissory Note”), and shall be repayable as set forth in this Agreement. Borrower irrevocably authorizes each Lender to make or cause to be made, on or about the Funding Date of any Term Loan or at the time of receipt of any payment of principal on such Lender’s Secured Promissory Note, an appropriate notation on such Lender’s Secured Promissory Note Record reflecting the making of such Term Loan or (as the case may be) the receipt of such payment. The outstanding amount of each Term Loan set forth on such Lender’s Secured Promissory Note Record shall be prima facie evidence of the principal amount thereof owing and unpaid to such Lender, but the failure to record, or any error in so recording, any such amount on such Lender’s Secured Promissory Note Record shall not limit or otherwise affect the obligations of Borrower under any Secured Promissory Note or any other Loan Document to make payments of principal of or interest on any Secured Promissory Note when due. Upon receipt of an affidavit of an officer of a Lender as to the loss, theft, destruction, or mutilation of its Secured Promissory Note, Borrower shall issue, in lieu thereof, a replacement Secured Promissory Note in the same principal amount thereof and of like tenor.

  • Repayment of Proceeds If Executive engages in Competitive Activity, then Executive shall be required to pay to Investors, within ten business days following the Activity Date, an amount equal to the excess, if any, of (A) the aggregate proceeds Executive received upon the sale or other disposition of Executive's Units, over (B) the aggregate Cost of such Units.

  • Payment of the Notes Not later than 10:00 a.m. (New York City time) on each due date of the principal of, premium, if any, and interest on any Notes, the Company shall deposit with the Paying Agent money in immediately available funds sufficient to pay such principal, redemption payments, premium, if any, and interest so becoming due. All the payments must be in U.S. Dollars.

  • Prepayment of Notes (a) The Company at its option may, upon ten days' written notice to the Holders, at any time, prepay all or any part of the principal amount of Notes at a redemption price equal to 101% (or, if the Company shall have paid the fee required by Section 6.18(b), 100%) of the principal amount of Notes so prepaid, together with accrued interest through the date of prepayment; provided, 18 that the redemption price shall be 103% of par plus accrued interest if the Notes are refunded (whether at the time of redemption or maturity) with or in anticipation of funds raised by any financing transaction in which DLJSC has not acted as sole agent or underwriter to the Company (unless DLJSC, in its sole discretion, shall have consented thereto). (b) The Company shall, promptly upon the receipt by the Company of the Net Cash Proceeds of any Designated Transaction, prepay an aggregate principal amount of Notes equal to the amount of such Net Cash Proceeds, at a redemption price equal to 101% of the principal amount of the Notes so prepaid, together with accrued interest through the date of prepayment; provided, that the redemption price shall be 103% of par plus accrued interest if the Notes are refunded (whether at the time of redemption or maturity) with or in anticipation of funds raised by any financing transaction in which DLJSC has not acted as sole agent or underwriter to the Company (other than a fully underwritten bank financing pursuant to a signed commitment letter containing only such conditions as are usual and customary in such financings and which does not contain any condition relating to the successful syndication of such transaction); and provided, further, that Notes shall be required to be so prepaid only to the extent that Net Cash Proceeds from all Designated Transactions on and after the date hereof exceed $1,000,000. (c) The Company shall, immediately upon the occurrence of a Change in Control, prepay all Notes then outstanding at a redemption price equal to 103% of the principal amount thereof, together with accrued interest through the date of prepayment. (d) Any prepayment of the Notes pursuant to Section 2.6(a) shall be in a minimum amount of at least $1,000,000 and multiples of $1,000,000, unless less than $1,000,000 of the Notes remains outstanding, in which case all of the Notes must be prepaid. Any prepayment of the Notes pursuant to Section 2.6(b) shall be in a minimum amount which is a multiple of $1,000 times the number of Holders at the time of such prepayment. (e) Any partial prepayment shall be made so that the Notes then held by each Holder shall be prepaid in a principal amount which shall bear the same ratio, as nearly as may be, to the total principal amount being prepaid as the principal amount of such Notes held by such Holder shall bear to the aggregate principal amount of all Notes then outstanding. In the 19 event of a partial prepayment, upon presentation of any Note the Company shall execute and deliver to or on the order of the Holder, at the expense of the Company, a new Note in principal amount equal to the remaining outstanding portion of such Note.

  • Promissory Note The Promissory Note is enclosed. The Chief Financial Officer is required to sign it and return it to the OPWC Loan Officer, Xxxxx XxXxxx. It is preferable that you scan and email it to her at Xxxxx.XxXxxx@xxx.xxxxx.xx.xx but may also mail it to the address on our letterhead. Only use one method.

  • Subordination of Debentures 49 13.1 Agreement to Subordinate......................................49 13.2 Default on Senior Debt, Subordinated Debt or Additional Senior Obligations..............................49 13.3

  • SUBORDINATION OF NOTES Section 11.01.

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