Promissory Note Option Sample Clauses

Promissory Note Option. The purchase price for all or a portion of the shares of a Terminated Shareholder may be paid by the Company or a Remaining Shareholder, as the case may be and in such purchaser’s sole discretion, using the Promissory Note Option.
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Promissory Note Option. Payment for certain purchases and sales of Common Stock pursuant to this Agreement may be made by delivery of a promissory note with a principal amount equal to the applicable purchase price (or balance thereof) bearing interest at a rate equal to the then-effective prime rate, federal funds, as reported by the Wall Street Journal at the time such promissory note is issued, with equal monthly amortized payments up to a maximum of sixty (60) months, unless a greater number of months is specifically permitted elsewhere herein with respect to a specific type of Trigger Event. Such option may be referred to herein as the “Promissory Note Option”.
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Promissory Note Option. The purchase price for all or a portion of the shares of Offered Common Stock of a Shareholder may be paid by the Company or a Participating Shareholder, as the case may be and in such purchaser’s sole discretion, using the Promissory Note Option.
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Promissory Note Option. The purchase price for all or a portion of the shares of a Deceased Shareholder pursuant to Section 5.4 may be paid by the Company or a Remaining Shareholder, as the case may be and in such purchaser’s sole discretion, using the Promissory Note Option.
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Promissory Note Option. The purchase price for all or a portion of the shares held by a Divorced Shareholder’s Spouse may be paid by the Company or a Remaining Shareholder, as the case may be and in such purchaser’s sole discretion, using the Promissory Note Option provided, that an promissory note may provide for equal monthly amortized payments up to a maximum of one hundred twenty (120) months.
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Related to Promissory Note Option

  • 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.

  • 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).

  • Convertible Note 9 Section 3.8

  • 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.

  • Promise to Pay; Promissory Notes (a) Borrowers agree to pay the Lender Group Expenses on the earlier of (i) the first day of the month following the date on which the applicable Lender Group Expenses were first incurred, or (ii) the date on which demand therefor is made by Agent (it being acknowledged and agreed that any charging of such costs, expenses or Lender Group Expenses to the Loan Account pursuant to the provisions of Section 2.6(d) shall be deemed to constitute a demand for payment thereof for the purposes of this subclause (ii)). Borrowers promise to pay all of the Obligations (including principal, interest, premiums, if any, fees, costs, and expenses (including Lender Group Expenses)) in full on the Maturity Date or, if earlier, on the date on which the Obligations (other than the Bank Product Obligations) become due and payable pursuant to the terms of this Agreement. Borrowers agree that their obligations contained in the first sentence of this Section 2.5(a) shall survive payment or satisfaction in full of all other Obligations.

  • Convertible Notes The Convertible Notes are subject to different conversion calculations depending on the event triggering conversion as described in the Notes (e.g., an IPO or other liquidity event). For illustration purposes, assuming the optional conversion right is exercised today, based on the current capitalization and the $50,000,000 assumed valuation specified for an optional conversion in the Notes, there would be 4,705,224 additional shares issued; provided however, that each holder of Notes is subject to a maximum 9.99% ownership of the shares of capital stock of the Company at any one time. This illustration calculation does not account for the 6% interest component.

  • Term Note The Term Loan shall be evidenced by the Term Note. At the time of the disbursement of the Term Loan or a repayment made in whole or in part thereon, a notation thereof shall be made on the books and records of the Bank. All amounts recorded shall be, absent demonstrable error, conclusive and binding evidence of (i) the principal amount of the Term Loan advanced hereunder, (ii) any accrued and unpaid interest owing on the Term Loan and (iii) all amounts repaid on the Term Loan. The failure to record any such amount or any error in recording such amounts shall not, however, limit or otherwise affect the joint and several obligations of the Borrowers under the Term Note to repay the principal amount of the Term Loan, together with all interest accruing thereon.

  • Term Loan Agreement An Event of Default (as defined in the Term Loan Agreement) shall occur.

  • of the Note Purchase Agreement Section 15.1 of the Note Purchase Agreement is amended to read in its entirety as follows:

  • Amendment to Purchase Agreement The Purchase Agreement is hereby amended as follows:

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