Common use of Payment of Term Note Clause in Contracts

Payment of Term Note. The outstanding principal balance of the Term Note shall be due and payable as follows: (a) Beginning on November 1, 1998, and on the first day of each month thereafter until October 1, 1999, in equal monthly installments of $99,000.00 and beginning on November 1, 1999, and on the first day of each month thereafter, in equal monthly installments of $65,000.00; (b) On the Termination Date, the entire unpaid principal balance of the Term Note, and all unpaid interest accrued thereon, shall in any event be due and payable.

Appears in 1 contract

Samples: Credit and Security Agreement (Royal Precision Inc)

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Payment of Term Note. The outstanding principal balance of the Term Note shall be due and payable as follows: (a) Beginning on November 1, 1998, and on the first day of each month thereafter until October 1, 1999, in equal monthly installments of $99,000.00 and beginning on November 1, 1999, and on the first day of each month thereafter, in monthly principal installments equal monthly installments of to $65,000.00;18,750, plus interest. (b) On the Termination Date, the entire unpaid principal balance of the Term Note, and all unpaid interest accrued thereon, shall in any event be due and payable.

Appears in 1 contract

Samples: Credit and Security Agreement (First Team Sports Inc)

Payment of Term Note. The outstanding principal balance of the Term Note shall be due and payable as follows: (a) Beginning In equal quarterly installments of $333,350, beginning on November September 1, 19982007, and on the first same day of each month thereafter until October 1, 1999, in equal monthly installments of $99,000.00 and beginning on November 1, 1999, and on the first day of each month quarter thereafter, in equal monthly installments of $65,000.00;. (b) All prepayments of principal with respect to the Term Note shall be applied to the most remote principal installment or installments then unpaid. (c) On the Termination DateDecember 1, 2009, the entire unpaid principal balance of the Term Note, Note and all unpaid interest accrued thereon, thereon shall in any event also be fully due and payable.

Appears in 1 contract

Samples: Credit and Security Agreement (Rf Monolithics Inc /De/)

Payment of Term Note. The outstanding principal balance of the Term Note shall be due and payable as follows: (a) Beginning on November 1, 1998, and on the first day of each month thereafter until October 1, 1999, in equal monthly eight quarterly installments of $99,000.00 and 100,000 each, beginning on November 1January 31, 1998 and continuing on April 30, July 31, October 31 and January 31 of each calendar year thereafter, through and including October 31, 1999, and on the first day of each month thereafter, in equal monthly installments of $65,000.00; (b) On in one final installment on the Termination Date, when the entire unpaid principal balance of the Term Note, and all unpaid interest accrued thereon, shall in any event be due and payablepayable in full.

Appears in 1 contract

Samples: Credit and Security Agreement (Health Fitness Physical Therapy Inc)

Payment of Term Note. The outstanding principal balance of the Term Note shall be due and payable as follows: (a) Beginning on November 1, 1998, and on the first day of each month thereafter until October 1, 1999, in In equal monthly installments of $99,000.00 and 30,000, beginning on November January 1, 1999, 2000 and on the first day of each month thereafter, in equal monthly installments of $65,000.00;; and (b) On the Termination DateMay 1, 2000, the entire unpaid principal balance of the Term Note, and all unpaid interest accrued thereon, shall in any event be due and payable.

Appears in 1 contract

Samples: Credit and Security Agreement (Leather Factory Inc)

Payment of Term Note. The outstanding principal balance of the Term Note shall be due and payable as follows: (a) Beginning on November April 1, 1998, and on the first day of each month thereafter until October 1, 1999, in equal monthly installments of $99,000.00 and beginning on November 1, 1999, 2001 and on the first day of each month thereafter, in equal monthly installments of $65,000.0046,850.00; (b) On the Termination Date, the entire unpaid principal balance of the Term Note, and all unpaid interest accrued thereon, shall in any event be due and payable.

Appears in 1 contract

Samples: Credit and Security Agreement (Royal Precision Inc)

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Payment of Term Note. The outstanding principal balance of the Term Note shall be due and payable as follows: (a) Beginning on November 1, 1998, and on the first day of each month thereafter until October 1, 1999, in equal monthly installments of $99,000.00 and beginning on November February 1, 1999, and on the first 1st day of each month thereafter, in equal monthly installments of Seventy Five Thousand Dollars ($65,000.00;75,000) each plus a final payment of all unpaid principal due on the Maturity Date; and (b) On the Termination Date, the entire unpaid principal balance of the Term Note, and all unpaid interest accrued thereon, shall in any event be due and payable.

Appears in 1 contract

Samples: Credit and Security Agreement (Heartland Technology Inc)

Payment of Term Note. The outstanding principal balance of the Term Note shall be due and payable as follows: (a) Beginning on November 1, 1998, and on the first day of each month thereafter until October 1, 1999, in In equal monthly installments of $99,000.00 and 100,000.00, payable monthly in arrears, beginning on November 130, 19992005, and on the first last day of each month thereafter, in equal monthly installments of $65,000.00;. (b) All prepayments of principal with respect to the Term Note shall be applied to the most remote principal installment or installments then unpaid. (c) On the Termination Date, the entire unpaid principal balance of the Term Note, and all unpaid interest accrued thereon, shall in any event be due and payable.

Appears in 1 contract

Samples: Credit and Security Agreement (Gardenburger Inc)

Payment of Term Note. The outstanding principal balance of the Term Note shall be due and payable as follows: (a) Beginning on November 1, 1998, and on the first day of each month thereafter until October 1, 1999, in In equal monthly installments of $99,000.00 and 200,000, beginning on November 1April 30, 19992004, and on the first last day of each month thereafter, in equal monthly installments of $65,000.00;. (b) On the Termination DateSeptember 30, 2006, the entire unpaid principal balance of the Term Note, and all unpaid interest accrued thereon, shall in any event be due and payable.” 7. Section 3.1 of the Credit Agreement is hereby amended to read in its entirety as follows:

Appears in 1 contract

Samples: Credit and Security Agreement (Ciber Inc)

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