Promissory Note Payments Sample Clauses

Promissory Note Payments. Company shall continue to make payments required under that certain Promissory Note dated July 6, 2016, of which the Company is the Maker and Executive is Holder, in the gross amount of $6,900 per month, and otherwise to honor the terms of such Note until paid in full.
Sample 1
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Promissory Note Payments. The Note must be paid in 20 consecutive quarterly payments of principal and interest. The Note bears interest from the date of its signing and must be in substantially the form attached to this document as Exhibit A. The interest rate on the Note is 5% per year, compounded monthly.
Sample 1
Promissory Note Payments. (a) The Loan shall be evidenced by, be repayable, and accrue interest in accordance with, this Agreement and the Promissory Note. Subject to the terms and conditions in this Agreement (including Section 2.1(c) and Section 3.2), the Promissory Note, and the other Loan Documents, Borrower may borrow, repay, and re-borrow under the Promissory Note in whole or in part, without premium or penalty. (b) The Promissory Note shall be payable as follows: (i) Beginning with the first (1st) Monthly Settlement Date and continuing on each Monthly Settlement Date thereafter, all accrued but unpaid interest on the unpaid principal balance of the Promissory Note shall be due and payable in full. (ii) With respect to each Advance: (1) on the day that is 211 days from the date of such Advance, Borrower shall pay to Lender an amount equal to ten percent (10%) of the unpaid principal balance of such Advance plus all accrued but unpaid interest thereon; and (2) on the day that is 240 days from the date of such Advance, Borrower shall pay to Lender an amount equal to the unpaid principal balance of such Advance plus all accrued but unpaid interest thereon. (iii) On the Maturity Date, the unpaid principal balance of the Note, all accrued but unpaid interest thereon and all other amounts due and owing under the Loan Documents shall be due and payable in full.
Sample 1
Promissory Note Payments. Borrower shall promptly pay when due the principal and interest on the debt evidenced by the Promissory Note and any late charges due under the Promissory Note. Unless applicable law provides otherwise, all payments received by Lender shall be applied first to interest due on the indebtedness, second to the principal due on the indebtedness, and third to any late charges outstanding under the Promissory Note.
Sample 1
Promissory Note Payments. The Promissory Note shall be paid as follows: (a) Royalties or other continuing fees, however characterized, paid to Buyer for use of the Marks, commencing as of February 1, 1999 (e.g., royalties paid pursuant to the Franchise Agreements other than the Excluded Agreements) ("Proceeds") excluding, however, any form of income generated by any and all Xxxx'x Deli restaurants currently wholly owned by Buyer and existing as of the date of this Agreement, will be paid to and collected by Buyer from Xxxx'x franchisees on a monthly basis. Upon their receipt, Buyer will deposit all such Proceeds into a separate account at an institution to be selected by Buyer (subject to Seller's prior written approval) and established by both parties, but controlled and under the signature authority of Seller. Each month, by the fifth day of such month, Seller will pay to Buyer the first Three Thousand Three Hundred Thirty Three Dollars and 34/100s ($3,333.34) of the prior month's collected Proceeds. If any Proceeds remain, Seller will pay Fifty Percent (50%) of such remaining amount to Buyer in addition to, and at the same time as the initial payment described above. Seller will retain the remaining portion of each month's Proceeds as payments of principal (and interest if applicable pursuant to subsection 2.2(b)) due under the Promissory Note. (b) If the principal balance of the Promissory Note is not reduced by at least Twenty Five Thousand Dollars ($25,000.00) in any one year, interest equal to Six Percent (6%) of the outstanding balance of the Promissory Note on December 31 of such year shall be added to the principal balance of the Promissory Note. (c) Other than Accounts Receivable arising from the Excluded Agreements, Accounts Receivable prior to February 1, 1999, that are collected after such date will be paid Fifty Percent (50%) to Seller and Fifty Percent (50%) to Buyer upon collection; provided that until paid in full, Buyer's portion will be applied to reduce the principal and interest (if any) owed under the Promissory Note. Buyer will be responsible for all efforts of collection of the Accounts Receivable (other than efforts related to the Accounts Receivable for Excluded Agreements), but shall not take any action with respect to the collection of Accounts Receivable that is inconsistent with Seller's general policy of collection of accounts receivable, and Buyer shall indemnify and hold Seller harmless from any claim related to the collection of the Accounts Recei...
Sample 1
Promissory Note Payments. The Purchase Price shall be reduced by any payments of principal received by Seller subsequent to January 1, 1997 with respect to any of the Promissory Notes.
Sample 1

Related to Promissory Note Payments

  • Note Payments The Company agrees that, so long as any Purchaser shall hold any Note, it will make payments of principal of, interest on, and any Yield-Maintenance Amount payable with respect to, such Note, which comply with the terms of this Agreement, by wire transfer of immediately available funds for credit (not later than 12:00 noon, New York City local time, on the date due) to (i) the account or accounts of such Purchaser specified in the Purchaser Schedule attached hereto in the case of any Series A Note, (ii) the account or accounts of such Purchaser specified in the Confirmation of Acceptance with respect to such Note in the case of any Shelf Note or (iii) such other account or accounts in the United States as such Purchaser may from time to time designate in writing, notwithstanding any contrary provision herein or in any Note with respect to the place of payment. Each Purchaser agrees that, before disposing of any Note, it will make a notation thereon (or on a schedule attached thereto) of all principal payments previously made thereon and of the date to which interest thereon has been paid. The Company agrees to afford the benefits of this paragraph 11A to any Transferee which shall have made the same agreement as the Purchasers have made in this paragraph 11A.

  • 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).

  • 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 and Late Payments Subordination 15 Section 5.2 Late Payments by Corporate Taxpayer 15 ARTICLE VI NO DISPUTES; CONSISTENCY; COOPERATION

  • Payment of Debt Borrower will pay the Debt at the time and in the manner provided in the Note and in this Security Instrument.

  • 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.

  • Promissory Notes and Tangible Chattel Paper If the Debtor shall at any time hold or acquire any promissory notes or tangible chattel paper, the Debtor shall forthwith endorse, assign and deliver the same to the Secured Party, accompanied by such instruments of transfer or assignment duly executed in blank as the Secured Party may from time to time specify.

  • 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. (b) Any Lender may request that any portion of its Commitments or the Loans made by it be evidenced by one or more promissory notes. In such event, Borrowers shall execute and deliver to such Lender the requested promissory notes payable to the order of such Lender in a form furnished by Agent and reasonably satisfactory to Borrowers. Thereafter, the portion of the Commitments and Loans evidenced by such promissory notes and interest thereon shall at all times be represented by one or more promissory notes in such form payable to the order of the payee named therein.

  • Subordination Agreement Each of (i) the subordination of interest payments to the Noteholders of the Class B Notes to the payment of any First Priority Principal Payment to the Noteholders of the Class A Notes and (ii) the subordination of interest payments to the Noteholders of the Class C Notes to the payment of any Second Priority Principal Payment to the Noteholders of the Class A Notes and the Class B Notes under Section 8.2(c) is a subordination agreement within the meaning of Section 510(a) of the Bankruptcy Code.

  • Subordination Agreements Subordination Agreements with respect to all Subordinated Debt.

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